Weitz Investment Management Inc. Has $98.51 Million Stake in Mastercard Incorporated (NYSE:MA)

Weitz Investment Management Inc. decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 8.0% in the 4th quarter, Holdings Channel reports. The firm owned 187,070 shares of the credit services provider’s stock after selling 16,280 shares during the period. Mastercard comprises 5.1% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Weitz Investment Management Inc.’s holdings in Mastercard were worth $98,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Addison Advisors LLC grew its holdings in shares of Mastercard by 3.8% during the 4th quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock worth $260,000 after acquiring an additional 18 shares during the period. Capital Investment Advisory Services LLC boosted its position in shares of Mastercard by 0.6% during the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after purchasing an additional 19 shares in the last quarter. Capital Investment Services of America Inc. boosted its position in shares of Mastercard by 4.2% during the fourth quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock valued at $250,000 after purchasing an additional 19 shares in the last quarter. Augustine Asset Management Inc. grew its stake in Mastercard by 1.1% in the fourth quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock worth $946,000 after purchasing an additional 19 shares during the period. Finally, Richard W. Paul & Associates LLC raised its holdings in Mastercard by 0.9% in the fourth quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock worth $1,182,000 after purchasing an additional 19 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

NYSE MA opened at $548.16 on Wednesday. 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 Incorporated has a 1-year low of $428.86 and a 1-year high of $582.23. The stock has a market capitalization of $499.76 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.37 and a beta of 1.10. The business’s fifty day moving average price is $551.46 and its 200-day moving average price is $527.98.

Mastercard (NYSE:MA) last announced its earnings results 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 return on equity of 188.47% and a net margin of 45.71%. On average, equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given 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 0.55%. Mastercard’s dividend payout ratio (DPR) is 21.89%.

Insider Buying and Selling at Mastercard

In related news, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 in the company, valued at approximately $46,692,629.36. The trade was a 15.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on MA shares. Jefferies Financial Group upped their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Tigress Financial restated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and set a $635.00 target price (up from $591.00) on shares of Mastercard in a report on Friday, January 31st. Macquarie boosted their price target on Mastercard from $565.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, KeyCorp raised their price objective on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.