Wedge Capital Management L L P NC Decreases Holdings in Mastercard Incorporated (NYSE:MA)

Wedge Capital Management L L P NC trimmed its stake in Mastercard Incorporated (NYSE:MAFree Report) by 61.0% during the first quarter, Holdings Channel reports. The fund owned 501 shares of the credit services provider’s stock after selling 784 shares during the period. Wedge Capital Management L L P NC’s holdings in Mastercard were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MA. Vanguard Group Inc. lifted its stake in shares of Mastercard by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock valued at $40,640,219,000 after buying an additional 377,302 shares in the last quarter. FMR LLC raised its holdings in Mastercard by 4.3% during the 4th quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock valued at $11,725,627,000 after acquiring an additional 912,856 shares during the period. Geode Capital Management LLC lifted its position in shares of Mastercard by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider’s stock worth $9,800,202,000 after acquiring an additional 282,739 shares in the last quarter. Norges Bank bought a new position in shares of Mastercard in the fourth quarter worth $6,022,224,000. Finally, Wellington Management Group LLP grew its position in shares of Mastercard by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock valued at $5,139,713,000 after purchasing an additional 817,836 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MA. Macquarie dropped their price objective on Mastercard from $645.00 to $610.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Evercore ISI began coverage on shares of Mastercard in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 price objective for the company. 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 note on Tuesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Mastercard in a report on Friday, June 6th. Finally, Citigroup raised their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a report 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $610.00.

View Our Latest Research Report on MA

Mastercard Trading Up 0.2%

NYSE MA opened at $590.78 on Thursday. The firm has a market cap of $538.62 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The stock has a 50-day moving average of $551.43 and a 200-day moving average of $543.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MAGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The firm had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Insider Buying and Selling at Mastercard

In related news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This represents a 15.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Vosburg sold 14,051 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the completion of the sale, the insider now owns 58,451 shares of the company’s stock, valued at $34,196,757.55. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,258 shares of company stock valued at $20,885,067 in the last quarter. Company insiders own 0.09% of the company’s stock.

Mastercard Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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