CIBC Asset Management Inc Acquires 10,481 Shares of Mastercard Incorporated (NYSE:MA)

CIBC Asset Management Inc raised its position in shares of Mastercard Incorporated (NYSE:MA) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 145,132 shares of the credit services provider’s stock after purchasing an additional 10,481 shares during the quarter. CIBC Asset Management Inc’s holdings in Mastercard were worth $76,422,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on MA shares. Piper Sandler reissued an “overweight” rating and issued a $635.00 price target (up from $591.00) on shares of Mastercard in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. Tigress Financial lifted their price objective on Mastercard from $550.00 to $685.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Seaport Res Ptn downgraded Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Trading Down 0.3 %

Mastercard stock opened at $564.77 on Monday. The stock has a 50-day moving average of $535.49 and a two-hundred day moving average of $510.30. 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 Incorporated has a one year low of $428.86 and a one year high of $576.94. The stock has a market cap of $518.36 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

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

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio is presently 21.89%.

Mastercard announced that its board has approved a stock repurchase program 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 purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are 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.