Jennison Associates LLC Sells 158,570 Shares of Mastercard Incorporated (NYSE:MA)

Jennison Associates LLC trimmed its position in Mastercard Incorporated (NYSE:MA) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,499,529 shares of the credit services provider’s stock after selling 158,570 shares during the quarter. Mastercard accounts for 2.0% of Jennison Associates LLC’s holdings, making the stock its 10th biggest holding. Jennison Associates LLC’s holdings in Mastercard were worth $3,209,467,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in shares of Mastercard during the 3rd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Mastercard during the 2nd quarter worth $34,000. First Personal Financial Services acquired a new stake in shares of Mastercard during the 3rd quarter worth $39,000. Fairway Wealth LLC bought a new stake in shares of Mastercard during the 2nd quarter worth $35,000. Finally, 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 worth $43,000 after buying an additional 37 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Down 0.4 %

NYSE MA opened at $519.47 on Wednesday. The business has a 50 day simple moving average of $505.41 and a 200 day simple moving average of $472.48. Mastercard Incorporated has a one year low of $398.26 and a one year high of $534.03. The stock has a market capitalization of $476.79 billion, a P/E ratio of 39.29, a P/E/G ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the firm posted $3.39 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Research analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.51%. Mastercard’s dividend payout ratio is currently 19.97%.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the sale, the insider now owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,370 shares of company stock valued at $46,797,168 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the subject of several recent analyst reports. Bank of America upped their price objective on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Susquehanna upped their price objective on Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets increased their target price on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Oppenheimer began coverage on Mastercard in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 target price for the company. Finally, Mizuho increased their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $549.16.

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.