Drive Wealth Management LLC Acquires 32 Shares of Mastercard Incorporated (NYSE:MA)

Drive Wealth Management LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,563 shares of the credit services provider’s stock after acquiring an additional 32 shares during the period. Drive Wealth Management LLC’s holdings in Mastercard were worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MA. Highline Wealth Partners LLC bought a new position in Mastercard in the 3rd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mastercard in the 2nd quarter valued at $34,000. First Personal Financial Services acquired a new position in shares of Mastercard in the 3rd quarter valued at $39,000. Lowe Wealth Advisors LLC lifted its stake in shares of Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 37 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in shares of Mastercard in the 3rd quarter valued at $54,000. 97.28% of the stock is currently owned by institutional investors.

Mastercard Price Performance

Shares of NYSE MA opened at $533.50 on Monday. The stock has a market capitalization of $489.66 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.10 and a beta of 1.10. The business has a 50-day moving average of $524.77 and a 200-day moving average of $497.46. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $537.70.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the company earned $3.39 EPS. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard declared that its board has approved a share repurchase program on Tuesday, December 17th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a yield of 0.57%. This is a boost from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MA shares. Seaport Res Ptn downgraded Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Macquarie increased their price target on Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on Mastercard from $580.00 to $618.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price target on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley raised their price objective on Mastercard from $564.00 to $654.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and an average target price of $567.29.

About Mastercard

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.