OLD National Bancorp IN Acquires 366 Shares of Mastercard Incorporated (NYSE:MA)

OLD National Bancorp IN raised its holdings in Mastercard Incorporated (NYSE:MA) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,691 shares of the credit services provider’s stock after purchasing an additional 366 shares during the quarter. OLD National Bancorp IN’s holdings in Mastercard were worth $5,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. State Street Corp increased its position in Mastercard by 0.7% in the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock worth $17,425,665,000 after buying an additional 257,312 shares during the last quarter. FMR LLC grew its stake in shares of Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after acquiring an additional 700,769 shares during the period. Geode Capital Management LLC raised its stake in Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after acquiring an additional 453,773 shares during the period. International Assets Investment Management LLC lifted its holdings in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after purchasing an additional 8,035,099 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Mastercard by 4.2% during the third quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock worth $3,800,836,000 after purchasing an additional 304,293 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on MA shares. Piper Sandler upped their price target on shares of Mastercard from $575.00 to $591.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group raised their price target on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays increased their price objective on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird lifted their target price on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Mastercard from $580.00 to $618.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $567.29.

Mastercard Stock Up 2.9 %

MA opened at $564.81 on Friday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The business’s 50-day moving average price is $526.58 and its 200-day moving average price is $499.80. The company has a market cap of $518.40 billion, a P/E ratio of 42.72, a P/E/G ratio of 2.10 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. On average, equities analysts expect that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard announced that its board has initiated a stock buyback program on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Mastercard Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be given a $0.76 dividend. This is a boost from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. Mastercard’s payout ratio is presently 23.00%.

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.