Strategic Financial Concepts LLC Buys New Position in Mastercard Incorporated (NYSE:MA)

Strategic Financial Concepts LLC bought a new position in Mastercard Incorporated (NYSE:MA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,671 shares of the credit services provider’s stock, valued at approximately $30,368,000. Mastercard makes up approximately 0.9% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 11th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Creative Planning increased its position in Mastercard by 5.8% in the 3rd quarter. Creative Planning now owns 205,594 shares of the credit services provider’s stock valued at $101,523,000 after buying an additional 11,331 shares in the last quarter. Swedbank AB grew its stake in Mastercard by 14.8% in the third quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider’s stock valued at $925,662,000 after acquiring an additional 241,297 shares during the period. Secure Asset Management LLC bought a new stake in shares of Mastercard during the third quarter valued at approximately $233,000. Ellsworth Advisors LLC acquired a new position in shares of Mastercard during the third quarter worth approximately $209,000. Finally, Sax Wealth Advisors LLC lifted its holdings in shares of Mastercard by 3.9% in the 3rd quarter. Sax Wealth Advisors LLC now owns 1,077 shares of the credit services provider’s stock worth $532,000 after purchasing an additional 40 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MA shares. Seaport Res Ptn downgraded shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. KeyCorp upped their target price on shares of Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lifted their price target on Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley lowered their price objective on Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.11.

Mastercard Stock Down 0.3 %

MA stock opened at $564.77 on Friday. The stock has a fifty day moving average of $535.49 and a 200-day moving average of $509.54. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $576.94. The company has a market capitalization of $518.36 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.29 and a current ratio of 1.03.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share 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%. As a group, equities research analysts predict that Mastercard Incorporated will post 15.98 earnings per share for the current year.

Mastercard Dividend Announcement

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

Mastercard announced that its board has initiated a share repurchase plan on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Mastercard 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.