Prudential Financial Inc. Decreases Stake in Mastercard Incorporated (NYSE:MA)

Prudential Financial Inc. decreased its position in Mastercard Incorporated (NYSE:MA) by 46.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,318,886 shares of the credit services provider’s stock after selling 1,124,992 shares during the period. Prudential Financial Inc. owned 0.12% of Mastercard worth $148,335,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Gluskin Sheff & Assoc Inc. increased its position in shares of Mastercard by 3.0% in the first quarter. Gluskin Sheff & Assoc Inc. now owns 295,350 shares of the credit services provider’s stock worth $46,897,000 after buying an additional 8,696 shares in the last quarter. Bank of The Ozarks increased its position in shares of Mastercard by 8.1% in the first quarter. Bank of The Ozarks now owns 13,163 shares of the credit services provider’s stock worth $1,480,000 after buying an additional 990 shares in the last quarter. YHB Investment Advisors Inc. increased its position in shares of Mastercard by 7.9% in the first quarter. YHB Investment Advisors Inc. now owns 3,548 shares of the credit services provider’s stock worth $413,000 after buying an additional 260 shares in the last quarter. M&T Bank Corp increased its position in shares of Mastercard by 6.0% in the first quarter. M&T Bank Corp now owns 497,994 shares of the credit services provider’s stock worth $56,009,000 after buying an additional 28,199 shares in the last quarter. Finally, Hartree Partners LP purchased a new position in shares of Mastercard during the first quarter worth $215,000. 75.76% of the stock is owned by institutional investors and hedge funds.

Mastercard Incorporated (NYSE MA) opened at 128.55 on Friday. Mastercard Incorporated has a 12-month low of $94.41 and a 12-month high of $132.20. The stock has a market capitalization of $136.89 billion, a PE ratio of 31.90 and a beta of 1.17. The company’s 50-day moving average is $126.59 and its 200 day moving average is $117.50.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Mastercard Incorporated will post $4.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, July 5th. Mastercard’s payout ratio is presently 21.78%.

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A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $137.00 price target (up from $129.00) on shares of Mastercard in a research note on Sunday, July 30th. BMO Capital Markets lifted their price target on shares of Mastercard from $126.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Loop Capital lifted their price target on shares of Mastercard from $132.00 to $144.00 and gave the company a “positive” rating in a research note on Friday, July 28th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $147.00 price target (up from $140.00) on shares of Mastercard in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $128.20.

In related news, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total value of $11,213,351.64. Following the transaction, the insider now owns 112,649,063 shares of the company’s stock, valued at $14,416,827,082.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martina Hundmejean sold 91,107 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 850,468 shares of company stock worth $109,574,694. Insiders own 0.30% of the company’s stock.

About Mastercard

MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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