Hoey Investments Inc. Has $316,000 Stake in Mastercard Incorporated (NYSE:MA)

Hoey Investments Inc. increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1,100.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600 shares of the credit services provider’s stock after acquiring an additional 550 shares during the quarter. Hoey Investments Inc.’s holdings in Mastercard were worth $316,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MA. Temasek Holdings Private Ltd boosted its stake 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 valued at $1,385,383,000 after purchasing an additional 62,891 shares during the period. Cardano Risk Management B.V. lifted its holdings in shares of Mastercard by 2.7% during the fourth quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock worth $194,141,000 after buying an additional 9,611 shares in the last quarter. Dock Street Asset Management Inc. boosted its position in shares of Mastercard by 4.5% in the fourth 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 period. Nordea Investment Management AB grew its stake in shares of Mastercard by 15.6% in the fourth 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Mastercard by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after purchasing an additional 138,842 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

NYSE:MA opened at $540.57 on Monday. The stock’s 50-day moving average is $550.58 and its 200-day moving average is $527.19. The stock has a market cap of $492.84 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $582.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last posted 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%. Equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has approved a share buyback plan on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio is currently 21.89%.

Insiders Place Their Bets

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares in the company, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MA. Piper Sandler restated an “overweight” rating and set a $635.00 target price (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price target on the stock in a research report on Friday, January 31st. Morgan Stanley dropped their price objective on Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group increased their target price on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Susquehanna boosted their price target on Mastercard from $605.00 to $670.00 and gave the company a “positive” rating 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 two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

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.