Abner Herrman & Brock LLC Sells 2,451 Shares of Mastercard Inc (NYSE:MA)

Abner Herrman & Brock LLC trimmed its position in shares of Mastercard Inc (NYSE:MA) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,035 shares of the credit services provider’s stock after selling 2,451 shares during the quarter. Mastercard makes up 4.9% of Abner Herrman & Brock LLC’s holdings, making the stock its 3rd biggest holding. Abner Herrman & Brock LLC’s holdings in Mastercard were worth $33,413,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in shares of Mastercard by 2,608.7% during the second quarter. Nuveen Asset Management LLC now owns 9,177,186 shares of the credit services provider’s stock worth $2,427,641,000 after acquiring an additional 8,838,385 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Mastercard by 65.9% during the second quarter. Polen Capital Management LLC now owns 4,392,067 shares of the credit services provider’s stock worth $1,161,833,000 after acquiring an additional 1,744,262 shares during the last quarter. Invesco Ltd. raised its position in shares of Mastercard by 50.9% during the second quarter. Invesco Ltd. now owns 5,016,084 shares of the credit services provider’s stock worth $1,326,906,000 after acquiring an additional 1,691,911 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Mastercard by 12.5% during the second quarter. JPMorgan Chase & Co. now owns 13,943,219 shares of the credit services provider’s stock worth $3,640,576,000 after acquiring an additional 1,548,776 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in shares of Mastercard by 26,075.5% during the second quarter. Thoroughbred Financial Services LLC now owns 1,285,481 shares of the credit services provider’s stock worth $128,548,000 after acquiring an additional 1,280,570 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MA. Bank of America raised their price objective on Mastercard from $255.00 to $267.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Morgan Stanley raised their price objective on Mastercard from $291.00 to $315.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays raised their price objective on Mastercard from $310.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Wedbush raised their price objective on Mastercard from $261.00 to $287.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, BMO Capital Markets set a $328.00 price objective on Mastercard and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $299.09.

MA stock traded up $2.34 during mid-day trading on Friday, reaching $276.17. The company’s stock had a trading volume of 2,080,125 shares, compared to its average volume of 3,710,693. The company has a market cap of $270.96 billion, a price-to-earnings ratio of 42.55, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The business’s 50 day moving average price is $275.86 and its 200 day moving average price is $262.23. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.55. Mastercard Inc has a 12 month low of $171.89 and a 12 month high of $293.69.

Mastercard (NYSE:MA) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 earnings per share. As a group, equities analysts expect that Mastercard Inc will post 7.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.48%. Mastercard’s dividend payout ratio is 20.34%.

In other news, major shareholder Foundation Mastercard sold 23,850 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $279.47, for a total transaction of $6,665,359.50. Following the completion of the sale, the insider now owns 112,102,262 shares in the company, valued at $31,329,219,161.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Miebach sold 2,233 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $283.12, for a total value of $632,206.96. Following the sale, the insider now owns 15,548 shares of the company’s stock, valued at approximately $4,401,949.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,143 shares of company stock valued at $38,535,340. Corporate insiders own 3.70% of the company’s stock.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

Further Reading: Understanding the Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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