Prudential Financial Inc. Trims Stock Position in Mastercard Incorporated (NYSE:MA)

Prudential Financial Inc. trimmed its stake in Mastercard Incorporated (NYSE:MA) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 875,559 shares of the credit services provider’s stock after selling 79,695 shares during the period. Mastercard accounts for about 0.6% of Prudential Financial Inc.’s investment portfolio, making the stock its 21st biggest holding. Prudential Financial Inc. owned about 0.10% of Mastercard worth $461,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. NewSquare Capital LLC bought a new stake in shares of Mastercard during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Mastercard during the fourth quarter worth about $32,000. Marshall Investment Management LLC purchased a new stake in Mastercard in the fourth quarter worth about $30,000. Truvestments Capital LLC increased its stake in shares of Mastercard by 62.5% during the fourth quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 25 shares in the last quarter. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Mastercard by 483.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Seaport Res Ptn cut shares of Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Raymond James restated an “outperform” rating and set a $640.00 price objective (up from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Finally, Citigroup upped their target price on shares of Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $606.11.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Mastercard Stock Down 0.2 %

NYSE MA opened at $535.14 on Monday. The stock’s 50-day moving average price is $547.55 and its 200-day moving average price is $524.95. The company has a market capitalization of $487.89 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23.

Mastercard (NYSE:MA) last issued its quarterly 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%. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.57%. Mastercard’s payout ratio is presently 21.89%.

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

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.