DAVENPORT & Co LLC Has $129 Million Stock Position in Mastercard Incorporated (NYSE:MA)

DAVENPORT & Co LLC grew its stake in shares of Mastercard Incorporated (NYSE:MAFree Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,718 shares of the credit services provider’s stock after purchasing an additional 1,231 shares during the period. Mastercard makes up 0.9% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 26th biggest holding. DAVENPORT & Co LLC’s holdings in Mastercard were worth $129,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MA. Norges Bank bought a new position in shares of Mastercard during the 4th quarter worth approximately $3,308,223,000. Moneta Group Investment Advisors LLC grew its stake in Mastercard by 111,819.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock valued at $2,080,549,000 after buying an additional 5,977,885 shares in the last quarter. Morgan Stanley grew its position in shares of Mastercard by 17.7% during the 4th quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock valued at $5,509,328,000 after purchasing an additional 2,385,640 shares in the last quarter. Barclays PLC lifted its holdings in shares of Mastercard by 145.7% during the 2nd quarter. Barclays PLC now owns 2,960,242 shares of the credit services provider’s stock worth $1,164,263,000 after acquiring an additional 1,755,483 shares during the last quarter. Finally, State Street Corp lifted its stake in Mastercard by 3.9% in the first quarter. State Street Corp now owns 34,759,814 shares of the credit services provider’s stock worth $12,632,032,000 after purchasing an additional 1,303,477 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Monness Crespi & Hardt began coverage on Mastercard in a research note on Wednesday, December 20th. They issued a “neutral” rating for the company. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Wednesday, January 31st. Royal Bank of Canada raised their target price on Mastercard from $432.00 to $499.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group increased their price target on Mastercard from $433.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Mizuho reaffirmed a “buy” rating and set a $480.00 price target on shares of Mastercard in a research report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $479.62.

View Our Latest Report on MA

Mastercard Stock Performance

Shares of NYSE:MA traded up $1.03 on Tuesday, reaching $479.43. The company’s stock had a trading volume of 2,771,481 shares, compared to its average volume of 2,443,510. The stock’s 50-day moving average is $466.86 and its two-hundred day moving average is $427.90. Mastercard Incorporated has a 52-week low of $355.97 and a 52-week high of $490.00. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $447.26 billion, a P/E ratio of 40.44, a PEG ratio of 1.83 and a beta of 1.08.

Mastercard (NYSE:MAGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.46 billion. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. During the same quarter last year, the firm earned $2.65 earnings per share. As a group, sell-side analysts forecast that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.66 per share. The ex-dividend date is Monday, April 8th. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is presently 22.32%.

Mastercard announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 5th that authorizes the company to repurchase $11.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Ajay Bhalla sold 98 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $439.52, for a total transaction of $43,072.96. Following the completion of the sale, the insider now directly owns 6,235 shares of the company’s stock, valued at approximately $2,740,407.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Craig Vosburg sold 13,542 shares of Mastercard stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the transaction, the insider now owns 46,491 shares in the company, valued at approximately $21,388,649.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Bhalla sold 98 shares of Mastercard stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $439.52, for a total transaction of $43,072.96. Following the transaction, the insider now owns 6,235 shares in the company, valued at approximately $2,740,407.20. The disclosure for this sale can be found here. Insiders sold 50,628 shares of company stock valued at $23,309,067 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Mastercard Company Profile

(Free Report)

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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