Sumitomo Life Insurance Co. Purchases 4,377 Shares of Mastercard Incorporated (NYSE:MA)

Sumitomo Life Insurance Co. grew its position in shares of Mastercard Incorporated (NYSE:MA) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,304 shares of the credit services provider’s stock after buying an additional 4,377 shares during the period. Mastercard makes up 0.3% of Sumitomo Life Insurance Co.’s holdings, making the stock its 26th biggest position. Sumitomo Life Insurance Co.’s holdings in Mastercard were worth $17,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of Mastercard during the 3rd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Mastercard during the 2nd quarter valued at approximately $34,000. First Personal Financial Services acquired a new position in Mastercard during the 3rd quarter worth approximately $39,000. Lowe Wealth Advisors LLC lifted its stake in Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 37 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Mastercard in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the subject of a number of recent research reports. Piper Sandler upped their target price on Mastercard from $575.00 to $591.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Seaport Res Ptn lowered shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Mizuho boosted their target price on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on shares of Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Macquarie boosted their price objective on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $567.29.

Mastercard Price Performance

MA opened at $547.61 on Wednesday. The stock has a market capitalization of $502.61 billion, a P/E ratio of 41.42, a PEG ratio of 2.10 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $551.55. The stock has a 50-day moving average price of $525.29 and a 200-day moving average price of $498.70.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $3.39 earnings per share. Equities analysts predict that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, January 10th. This is a boost from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is presently 23.00%.

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

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.