Mastercard Incorporated (NYSE:MA) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,942 shares of the credit services provider’s stock after selling 320 shares during the period. Mastercard accounts for 1.2% of Portside Wealth Group LLC’s investment portfolio, making the stock its 12th biggest position. Portside Wealth Group LLC’s holdings in Mastercard were worth $7,642,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC lifted its stake in Mastercard by 8.3% in the first quarter. Moss Adams Wealth Advisors LLC now owns 5,021 shares of the credit services provider’s stock valued at $2,752,000 after buying an additional 385 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of Mastercard by 550.0% during the first quarter. NewSquare Capital LLC now owns 325 shares of the credit services provider’s stock valued at $178,000 after purchasing an additional 275 shares in the last quarter. Courier Capital LLC raised its stake in shares of Mastercard by 17.4% during the first quarter. Courier Capital LLC now owns 8,619 shares of the credit services provider’s stock valued at $4,724,000 after purchasing an additional 1,275 shares in the last quarter. McDonough Capital Management Inc raised its stake in shares of Mastercard by 0.9% during the first quarter. McDonough Capital Management Inc now owns 12,564 shares of the credit services provider’s stock valued at $6,887,000 after purchasing an additional 108 shares in the last quarter. Finally, Abacus Planning Group Inc. raised its stake in shares of Mastercard by 36.9% during the first quarter. Abacus Planning Group Inc. now owns 616 shares of the credit services provider’s stock valued at $338,000 after purchasing an additional 166 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Mastercard from $650.00 to $652.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial began coverage on Mastercard in a research note on Monday, June 2nd. They issued a “buy” rating and a $640.00 price target on the stock. Monness Crespi & Hardt cut Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $633.00 price objective on shares of Mastercard in a research report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $610.00.

Mastercard Stock Up 0.8%

MA opened at $590.03 on Monday. The business has a 50 day moving average price of $547.49 and a 200 day moving average price of $542.12. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $591.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $537.94 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.31 EPS. Research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Insiders Place Their Bets

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the sale, the chief executive officer now owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,258 shares of company stock valued at $20,885,067 in the last three months. Company 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.