Brookstone Capital Management trimmed its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,046 shares of the credit services provider’s stock after selling 344 shares during the quarter. Brookstone Capital Management’s holdings in Mastercard were worth $4,237,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH lifted its position in Mastercard by 4.3% in the fourth quarter. Trust Co. of Toledo NA OH now owns 11,575 shares of the credit services provider’s stock valued at $6,095,000 after purchasing an additional 474 shares during the period. Fiduciary Alliance LLC lifted its holdings in shares of Mastercard by 141.2% in the 4th quarter. Fiduciary Alliance LLC now owns 7,565 shares of the credit services provider’s stock valued at $3,984,000 after buying an additional 4,429 shares during the period. Winthrop Advisory Group LLC lifted its holdings in shares of Mastercard by 11.0% in the 4th quarter. Winthrop Advisory Group LLC now owns 2,740 shares of the credit services provider’s stock valued at $1,443,000 after buying an additional 272 shares during the period. Matrix Trust Co acquired a new position in Mastercard during the fourth quarter worth $160,000. Finally, Aprio Wealth Management LLC raised its position in Mastercard by 16.1% in the fourth quarter. Aprio Wealth Management LLC now owns 2,952 shares of the credit services provider’s stock worth $1,554,000 after acquiring an additional 410 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.
Mastercard Trading Up 0.7 %
NYSE MA opened at $508.49 on Wednesday. The company has a market cap of $466.71 billion, a P/E ratio of 38.46, a P/E/G ratio of 2.36 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $425.48 and a 12 month high of $537.70. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50-day moving average of $524.14 and a 200-day moving average of $493.23.
Mastercard declared that its board has authorized a stock repurchase plan on Tuesday, December 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Mastercard Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, January 10th. This is an increase from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s payout ratio is 23.00%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Mastercard from $572.00 to $584.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets upped their target price on shares of Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. TD Cowen lifted their price target on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Mastercard from $580.00 to $618.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays lifted 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. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $566.63.
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.
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