Parsec Financial Management Inc. purchased a new position in Mastercard Inc (NYSE:MA) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 905 shares of the credit services provider’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Coastline Trust Co boosted its position in Mastercard by 8.7% during the 1st quarter. Coastline Trust Co now owns 16,320 shares of the credit services provider’s stock worth $3,842,000 after acquiring an additional 1,310 shares during the period. Radnor Capital Management LLC acquired a new stake in Mastercard during the 1st quarter worth about $223,000. Security National Trust Co. boosted its position in Mastercard by 2.4% during the 1st quarter. Security National Trust Co. now owns 13,972 shares of the credit services provider’s stock worth $3,290,000 after acquiring an additional 333 shares during the period. Canandaigua National Bank & Trust Co. boosted its position in Mastercard by 4.6% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 11,406 shares of the credit services provider’s stock worth $2,686,000 after acquiring an additional 500 shares during the period. Finally, C J Advisory Inc acquired a new stake in Mastercard during the 1st quarter worth about $65,000. 75.29% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Ajay Banga sold 252,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $250.92, for a total value of $63,382,392.00. Following the completion of the sale, the chief executive officer now directly owns 427,638 shares in the company, valued at approximately $107,302,926.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Timothy H. Murphy sold 60,428 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $230.31, for a total value of $13,917,172.68. Following the completion of the sale, the general counsel now owns 46,331 shares of the company’s stock, valued at $10,670,492.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 381,530 shares of company stock valued at $93,705,711. Corporate insiders own 0.32% of the company’s stock.
Shares of Mastercard stock opened at $253.49 on Tuesday. The stock has a market cap of $257.99 billion, a PE ratio of 39.06, a PEG ratio of 2.00 and a beta of 1.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.40 and a quick ratio of 1.41. Mastercard Inc has a 52-week low of $171.89 and a 52-week high of $257.43.
Mastercard (NYSE:MA) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.12. Mastercard had a return on equity of 129.95% and a net margin of 40.82%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the company earned $1.50 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts expect that Mastercard Inc will post 7.6 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on Mastercard from $254.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Citigroup raised their price objective on Mastercard from $274.00 to $288.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Wednesday, May 15th. UBS Group raised their price objective on Mastercard from $247.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, KeyCorp raised their price objective on Mastercard from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $247.58.
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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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