Prentice Wealth Management LLC Trims Stake in Mastercard Incorporated $MA

Prentice Wealth Management LLC lessened its position in shares of Mastercard Incorporated (NYSE:MA) by 4.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,515 shares of the credit services provider’s stock after selling 120 shares during the quarter. Prentice Wealth Management LLC’s holdings in Mastercard were worth $1,413,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MA. LGT Financial Advisors LLC purchased a new position in shares of Mastercard during the second quarter worth approximately $25,000. Family Legacy Financial Solutions LLC purchased a new stake in Mastercard in the 2nd quarter valued at $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard during the 1st quarter worth $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the 1st quarter worth $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE:MA opened at $573.59 on Friday. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a 50-day moving average price of $579.67 and a 200 day moving average price of $564.74. The company has a market cap of $518.53 billion, a P/E ratio of 38.68, a PEG ratio of 2.34 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last released 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. The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS. Research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 dividend payout ratio is presently 20.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MA shares. Wells Fargo & Company raised shares of Mastercard to a “strong-buy” rating in a report on Wednesday. Citigroup upgraded Mastercard to a “strong-buy” rating in a research report on Thursday. Wall Street Zen raised Mastercard from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. KeyCorp reaffirmed an “overweight” rating and set a $665.00 price objective on shares of Mastercard in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Mastercard presently has an average rating of “Buy” and an average price target of $638.00.

Insider Transactions at Mastercard

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