DnB Asset Management AS Has $553.97 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

DnB Asset Management AS trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,052,034 shares of the credit services provider’s stock after selling 34,359 shares during the quarter. Mastercard accounts for 2.4% of DnB Asset Management AS’s investment portfolio, making the stock its 8th largest holding. DnB Asset Management AS’s holdings in Mastercard were worth $553,970,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. NewSquare Capital LLC purchased a new stake in Mastercard in the 4th quarter worth approximately $26,000. Marshall Investment Management LLC bought a new stake in shares of Mastercard in the 4th quarter worth approximately $30,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Mastercard during the fourth quarter valued at about $32,000. Truvestments Capital LLC increased its stake in Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 25 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in Mastercard during the 4th quarter valued at $37,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Oppenheimer decreased their price objective on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research report on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada upped their target price on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, UBS Group increased their target price on shares of Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average target price of $606.11.

Mastercard Price Performance

Shares of MA opened at $557.64 on Friday. The stock’s 50 day moving average is $550.27 and its two-hundred day moving average is $526.28. 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 firm has a market capitalization of $508.40 billion, a PE ratio of 40.15, a P/E/G ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating 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%. Research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. Mastercard’s payout ratio is currently 21.89%.

Mastercard declared that its Board of Directors has approved 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 typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the firm’s 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 transaction, the chief executive officer now owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was 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. 0.10% of the stock is currently owned by corporate insiders.

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.