Lord Abbett & CO. LLC Sells 29,207 Shares of Mastercard Incorporated (NYSE:MA)

Lord Abbett & CO. LLC cut its stake in Mastercard Incorporated (NYSE:MA) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,442 shares of the credit services provider’s stock after selling 29,207 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Mastercard were worth $100,460,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MA. Highline Wealth Partners LLC acquired a new position in Mastercard during the 3rd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the second quarter worth about $34,000. Fairway Wealth LLC acquired a new position in shares of Mastercard during the second quarter valued at about $35,000. First Personal Financial Services acquired a new position in shares of Mastercard during the third quarter valued at about $39,000. Finally, Lowe Wealth Advisors LLC raised its position in shares of 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. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Down 0.6 %

NYSE MA opened at $529.00 on Friday. The business’s fifty day simple moving average is $517.23 and its 200-day simple moving average is $481.15. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The firm has a market cap of $485.53 billion, a PE ratio of 40.02, a P/E/G ratio of 2.38 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $411.60 and a 52 week high of $536.75.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The company had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.39 earnings per share. As a group, equities analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is presently 19.97%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MA shares. UBS Group raised their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Mizuho raised their target price on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen boosted their price target on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer began coverage on Mastercard in a report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $559.28.

Insider Activity at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by 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.