Cullen Frost Bankers Inc. Cuts Position in Mastercard Incorporated (NYSE:MA)

Cullen Frost Bankers Inc. decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,151 shares of the credit services provider’s stock after selling 4,132 shares during the period. Mastercard makes up approximately 1.1% of Cullen Frost Bankers Inc.’s holdings, making the stock its 24th largest holding. Cullen Frost Bankers Inc.’s holdings in Mastercard were worth $74,181,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. VitalStone Financial LLC raised its position in Mastercard by 300.0% in the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC bought a new stake in shares of Mastercard in the 1st quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard during the 1st quarter valued at about $27,000. Scarborough Advisors LLC bought a new position in Mastercard during the 4th quarter worth approximately $28,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in Mastercard in the 4th quarter worth approximately $30,000. Institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other Mastercard news, insider Raj Seshadri sold 3,464 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $447.84, for a total transaction of $1,551,317.76. Following the sale, the insider now directly owns 13,736 shares of the company’s stock, valued at $6,151,530.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Raj Seshadri sold 3,464 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $447.84, for a total transaction of $1,551,317.76. Following the transaction, the insider now directly owns 13,736 shares of the company’s stock, valued at approximately $6,151,530.24. The disclosure for this sale can be found here. Insiders sold a total of 1,167,931 shares of company stock valued at $531,284,982 over the last three months. Corporate insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE:MA traded down $1.24 during midday trading on Friday, hitting $476.12. The company had a trading volume of 2,116,234 shares, compared to its average volume of 2,444,963. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The company has a fifty day moving average of $456.26 and a two-hundred day moving average of $459.59. The company has a market cap of $442.61 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, July 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MA shares. Susquehanna boosted their price target on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Bank of America downgraded Mastercard from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $505.00 to $480.00 in a report on Wednesday, July 10th. TD Cowen raised their target price on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler upped their price target on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Evercore ISI lowered their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $510.88.

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.