Schmidt P J Investment Management Inc. Trims Stock Position in Mastercard Incorporated (NYSE:MA)

Schmidt P J Investment Management Inc. lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,302 shares of the credit services provider’s stock after selling 54 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Mastercard were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new position in shares of Mastercard in the third quarter valued at about $25,000. First Personal Financial Services bought a new stake in Mastercard during the 3rd quarter valued at approximately $39,000. FSA Wealth Management LLC purchased a new position in Mastercard in the 3rd quarter worth approximately $54,000. Raelipskie Partnership boosted its stake in Mastercard by 120.0% in the 3rd quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock worth $54,000 after purchasing an additional 60 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Mastercard during the 3rd quarter valued at approximately $55,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Trading Up 1.2 %

NYSE MA opened at $566.05 on Thursday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The stock has a market capitalization of $519.53 billion, a P/E ratio of 40.75, a PEG ratio of 2.23 and a beta of 1.10. The firm’s 50-day moving average is $529.65 and its two-hundred day moving average is $503.41. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.29.

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, 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, sell-side analysts anticipate that Mastercard Incorporated will post 16.04 earnings per share for the current year.

Mastercard declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Mastercard Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, January 10th. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. Mastercard’s dividend payout ratio is 21.89%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer cut 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. Keefe, Bruyette & Woods increased their price target on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Seaport Res Ptn downgraded Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Mizuho increased their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $635.00 price target (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $603.08.

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.