Cornerstone Wealth Group LLC Lowers Stock Holdings in Mastercard Incorporated (NYSE:MA)

Cornerstone Wealth Group LLC decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,907 shares of the credit services provider’s stock after selling 126 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $3,238,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Mastercard in the 4th quarter valued at about $6,022,224,000. GAMMA Investing LLC increased its holdings in shares of Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after purchasing an additional 8,213,123 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Mastercard during the fourth quarter worth approximately $837,017,000. Proficio Capital Partners LLC lifted its holdings in shares of Mastercard by 79,739.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the period. Finally, Northern Trust Corp grew its position in Mastercard by 15.2% in the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock valued at $4,817,684,000 after buying an additional 1,207,787 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MA. KeyCorp raised their target price on shares of Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Truist Financial began coverage on Mastercard in a report on Monday, June 2nd. They set a “buy” rating and a $640.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Finally, UBS Group boosted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.00.

Insider Activity at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $353.05, for a total value of $3,328,555.40. Following the transaction, the insider now directly owns 58,451 shares of the company’s stock, valued at $20,636,125.55. The trade was a 13.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $550.16, for a total value 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 $46,692,629.36. The trade was a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,890 shares of company stock valued at $27,003,492. Insiders own 0.09% of the company’s stock.

Mastercard Stock Up 1.8%

MA opened at $542.63 on Tuesday. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $560.33 and its 200-day moving average is $544.91. The company has a market capitalization of $494.72 billion, a PE ratio of 38.05, a P/E/G ratio of 2.32 and a beta of 1.05.

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

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.