Corundum Group Inc. Has $1.61 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

Corundum Group Inc. boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 100.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,062 shares of the credit services provider’s stock after purchasing an additional 1,536 shares during the period. Corundum Group Inc.’s holdings in Mastercard were worth $1,612,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MA shares. Deutsche Bank Aktiengesellschaft raised their price objective on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup raised their price objective on Mastercard from $572.00 to $584.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Susquehanna upped their price target on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Seaport Res Ptn cut shares of Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, William Blair reissued an “outperform” rating on shares of Mastercard in a research report on Monday, November 25th. Four investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $566.63.

Mastercard Stock Up 0.4 %

Shares of NYSE:MA opened at $525.22 on Monday. The firm has a market capitalization of $482.06 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard Incorporated has a 52-week low of $427.45 and a 52-week high of $537.70. The firm has a fifty day moving average of $524.28 and a 200 day moving average of $494.59.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $3.39 EPS. As a group, research analysts anticipate that Mastercard Incorporated will post 14.46 EPS for the current fiscal year.

Mastercard Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, January 10th. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s payout ratio is 19.97%.

Mastercard declared that its Board of Directors has approved a stock repurchase program 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 programs are usually an indication that the company’s leadership 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.