Bank of Montreal Can Reduces Position in Mastercard Incorporated (NYSE:MA)

Bank of Montreal Can cut its stake in Mastercard Incorporated (NYSE:MA) by 57.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,467,695 shares of the credit services provider’s stock after selling 3,298,019 shares during the period. Bank of Montreal Can owned approximately 0.27% of Mastercard worth $1,299,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MA. Norges Bank acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $6,022,224,000. Raymond James Financial Inc. acquired a new stake in Mastercard during the fourth quarter worth $837,017,000. Proficio Capital Partners LLC raised its position in Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the period. FMR LLC lifted its stake in shares of Mastercard by 4.3% in the 4th quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock valued at $11,725,627,000 after purchasing an additional 912,856 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Mastercard by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock worth $5,139,713,000 after purchasing an additional 817,836 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE MA opened at $489.94 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The stock has a market cap of $446.68 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.37 and a beta of 1.06. The stock has a 50 day moving average of $550.92 and a two-hundred day moving average of $528.50. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23.

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, topping the consensus estimate 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 earnings per share for the current year.

Mastercard announced that its board has approved a share repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.62%. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Insider Activity

In related news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated 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 directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup upped their price objective on shares of Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, January 31st. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price for the company in a report on Tuesday, February 4th. Monness Crespi & Hardt upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a report on Friday, January 31st. Finally, Seaport Res Ptn lowered Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

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.