Fagan Associates Inc. Has $11.95 Million Position in Mastercard Incorporated (NYSE:MA)

Fagan Associates Inc. reduced its stake in Mastercard Incorporated (NYSE:MA) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,686 shares of the credit services provider’s stock after selling 470 shares during the period. Mastercard accounts for 1.9% of Fagan Associates Inc.’s holdings, making the stock its 12th largest holding. Fagan Associates Inc.’s holdings in Mastercard were worth $11,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in shares of Mastercard in the third quarter valued at about $25,000. First Personal Financial Services acquired a new position in shares of Mastercard in the third quarter valued at about $39,000. FSA Wealth Management LLC acquired a new position in shares of Mastercard in the third quarter valued at about $54,000. Raelipskie Partnership grew its stake in shares of Mastercard by 120.0% in the third quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock valued at $54,000 after acquiring an additional 60 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Mastercard in the third quarter valued at about $55,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Up 0.6 %

Shares of NYSE MA opened at $567.90 on Wednesday. The company has a 50 day simple moving average of $537.10 and a 200 day simple moving average of $511.77. The firm has a market cap of $521.24 billion, a PE ratio of 40.89, 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 $576.94. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03.

Mastercard (NYSE:MA) last issued its quarterly earnings data 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 net margin of 45.71% and a return on equity of 188.47%. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its board has initiated a stock repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Mastercard Dividend Announcement

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

Wall Street Analysts Forecast Growth

MA has been the topic of several research reports. KeyCorp upped their price target on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. Morgan Stanley decreased their price target on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. BMO Capital Markets increased their price objective on shares of Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Four investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.11.

About Mastercard

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.