Envestnet Portfolio Solutions Inc. Trims Stock Position in Mastercard Incorporated (NYSE:MA)

Envestnet Portfolio Solutions Inc. decreased its holdings in Mastercard Incorporated (NYSE:MA) by 23.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,002 shares of the credit services provider’s stock after selling 19,011 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Mastercard were worth $33,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Investment Counsel LLC raised its position in shares of Mastercard by 55.6% in the 1st quarter. Sterling Investment Counsel LLC now owns 1,817 shares of the credit services provider’s stock worth $996,000 after buying an additional 649 shares during the period. Duncan Williams Asset Management LLC grew its position in Mastercard by 4.3% during the first quarter. Duncan Williams Asset Management LLC now owns 6,595 shares of the credit services provider’s stock valued at $3,615,000 after acquiring an additional 272 shares during the period. Global X Japan Co. Ltd. acquired a new stake in Mastercard during the first quarter worth about $54,000. Premier Path Wealth Partners LLC increased its stake in Mastercard by 2.7% during the first quarter. Premier Path Wealth Partners LLC now owns 4,708 shares of the credit services provider’s stock worth $2,580,000 after acquiring an additional 122 shares during the last quarter. Finally, MGO Private Wealth LLC purchased a new position in shares of Mastercard in the 1st quarter worth about $208,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the subject of several analyst reports. Monness Crespi & Hardt downgraded shares of Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. KeyCorp upped their price objective on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. UBS Group lifted their target price on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Macquarie cut their price target on Mastercard from $645.00 to $610.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup raised their price objective on Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $610.00.

Insider Activity

In other news, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at approximately $46,692,629.36. The trade was a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Vosburg sold 14,051 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the sale, the insider now owns 58,451 shares in the company, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,513 shares of company stock valued at $23,166,463. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Down 5.4%

NYSE:MA opened at $538.45 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. The stock has a 50 day moving average of $558.50 and a 200-day moving average of $544.42. The firm has a market capitalization of $490.91 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $594.71.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the business earned $3.31 EPS. The firm’s revenue was up 14.2% on a year-over-year basis. Analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

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.