Sawgrass Asset Management LLC Sells 1,806 Shares of Mastercard Incorporated (NYSE:MA)

Sawgrass Asset Management LLC lessened its stake in Mastercard Incorporated (NYSE:MA) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,236 shares of the credit services provider’s stock after selling 1,806 shares during the period. Mastercard accounts for 1.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 16th largest holding. Sawgrass Asset Management LLC’s holdings in Mastercard were worth $15,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd raised its position in Mastercard by 2.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after purchasing an additional 62,891 shares during the last quarter. Cardano Risk Management B.V. raised its position in shares of Mastercard by 2.7% during the 4th quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock valued at $194,141,000 after acquiring an additional 9,611 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Mastercard by 15.6% during the 4th quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock valued at $1,325,353,000 after acquiring an additional 337,905 shares during the last quarter. Dock Street Asset Management Inc. raised its position in shares of Mastercard by 4.5% during the 4th quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock valued at $35,932,000 after acquiring an additional 2,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Mastercard by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after acquiring an additional 100,550 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Seaport Res Ptn lowered shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wells Fargo & Company upped their target price on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Oppenheimer reduced their target price on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $640.00 target price (up from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $603.08.

Mastercard Stock Performance

Shares of NYSE:MA opened at $564.33 on Thursday. The company’s 50 day moving average price is $533.07 and its two-hundred day moving average price is $507.89. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $576.94. The firm has a market cap of $517.96 billion, a PE ratio of 40.63, a PEG ratio of 2.37 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Equities research analysts predict that Mastercard Incorporated will post 15.98 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is currently 21.89%.

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

Mastercard Company Profile

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.