Pittenger & Anderson Inc. Reduces Stock Holdings in Mastercard Incorporated $MA

Key Points

• Pittenger & Anderson Inc. reduced its holdings in Mastercard by 6.5%, now owning 49,752 shares valued at approximately $27.96 million.
• Mastercard reported a quarterly earnings per share of $4.15, exceeding expectations, with revenues reaching $8.13 billion for the quarter.
• The company announced a quarterly dividend of $0.76, providing an annual yield of 0.5%, with the dividend payment scheduled for November 7th.

Pittenger & Anderson Inc. decreased its position in Mastercard Incorporated (NYSE:MA - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,752 shares of the credit services provider's stock after selling 3,478 shares during the period. Mastercard comprises approximately 1.0% of Pittenger & Anderson Inc.'s portfolio, making the stock its 24th biggest holding. Pittenger & Anderson Inc.'s holdings in Mastercard were worth $27,958,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MA. Family Legacy Financial Solutions LLC bought a new stake in Mastercard during the 2nd quarter valued at $26,000. Flaharty Asset Management LLC bought a new stake in Mastercard during the 1st quarter valued at $27,000. Keystone Global Partners LLC bought a new stake in Mastercard during the 1st quarter valued at $31,000. Hughes Financial Services LLC bought a new stake in Mastercard during the 1st quarter valued at $34,000. Finally, 1 North Wealth Services LLC bought a new stake in Mastercard during the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Stock Up 1.0%

Shares of NYSE:MA opened at $566.35 on Tuesday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The firm has a fifty day moving average of $580.07 and a 200 day moving average of $564.03. The firm has a market capitalization of $511.99 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard's payout ratio is 20.50%.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MA. Royal Bank Of Canada boosted their target price on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a report on Friday, August 1st. KeyCorp upped their price target on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mastercard in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $634.04.

Mastercard 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.

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