Lord Abbett & CO. LLC Has $173.63 Million Position in Mastercard Incorporated (NYSE:MA)


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Lord Abbett & CO. LLC reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 486,435 shares of the credit services provider’s stock after selling 41,298 shares during the period. Lord Abbett & CO. LLC’s holdings in Mastercard were worth $173,629,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Mastercard by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 15,422,569 shares of the credit services provider’s stock worth $5,185,528,000 after acquiring an additional 637,124 shares in the last quarter. Morgan Stanley raised its holdings in Mastercard by 6.5% during the third quarter. Morgan Stanley now owns 14,937,228 shares of the credit services provider’s stock worth $5,051,323,000 after acquiring an additional 908,871 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mastercard by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,729,122 shares of the credit services provider’s stock worth $2,275,589,000 after acquiring an additional 19,531 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mastercard by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,270,127 shares of the credit services provider’s stock worth $1,444,029,000 after acquiring an additional 57,615 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Mastercard by 8.8% during the fourth quarter. Fisher Asset Management LLC now owns 3,985,855 shares of the credit services provider’s stock worth $1,422,711,000 after acquiring an additional 321,980 shares in the last quarter. 73.64% of the stock is owned by institutional investors.

NYSE:MA traded up $2.28 during trading hours on Tuesday, reaching $342.94. 52,218 shares of the company were exchanged, compared to its average volume of 4,460,473. The company has a market capitalization of $341.89 billion, a P/E ratio of 51.07, a P/E/G ratio of 2.56 and a beta of 1.19. Mastercard Incorporated has a 1-year low of $199.99 and a 1-year high of $367.25. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50 day moving average of $335.30 and a 200 day moving average of $334.85.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 28th. The credit services provider reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.13. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. Mastercard had a return on equity of 114.80% and a net margin of 43.13%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. As a group, equities research analysts anticipate that Mastercard Incorporated will post 6.31 earnings per share for the current fiscal year.

Mastercard announced that its board has authorized a stock buyback plan on Tuesday, December 8th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Friday, April 9th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, April 8th. Mastercard’s dividend payout ratio is presently 22.65%.

In other Mastercard news, insider Edward Grunde Mclaughlin sold 13,248 shares of the firm’s stock in a transaction on Friday, January 8th. The stock was sold at an average price of $350.73, for a total value of $4,646,471.04. Following the sale, the insider now owns 38,447 shares of the company’s stock, valued at approximately $13,484,516.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 171,594 shares of the firm’s stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $327.73, for a total value of $56,236,501.62. Following the completion of the sale, the insider now directly owns 108,382,229 shares in the company, valued at approximately $35,520,107,910.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 764,346 shares of company stock worth $252,786,532. Company insiders own 3.79% of the company’s stock.

MA has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Mastercard from $345.00 to $333.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. JPMorgan Chase & Co. dropped their price objective on Mastercard from $372.00 to $342.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Seaport Global Securities started coverage on Mastercard in a research note on Monday, December 7th. They issued a “buy” rating and a $370.00 price objective on the stock. Barclays upped their price objective on Mastercard from $360.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Finally, Bank of America upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Wednesday, January 6th. Four investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $356.47.

Mastercard Profile

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.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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