CIBC Private Wealth Group LLC Sells 100,663 Shares of Mastercard Incorporated (NYSE:MA)

CIBC Private Wealth Group LLC decreased its stake in Mastercard Incorporated (NYSE:MA) by 9.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 919,401 shares of the credit services provider’s stock after selling 100,663 shares during the quarter. Mastercard makes up about 0.8% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 28th biggest position. CIBC Private Wealth Group LLC’s holdings in Mastercard were worth $327,354,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. TD Ameritrade Investment Management LLC acquired a new position in Mastercard in the 4th quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. increased its position in shares of Mastercard by 196.3% during the first quarter. Stuart Chaussee & Associates Inc. now owns 80 shares of the credit services provider’s stock worth $28,000 after buying an additional 53 shares during the period. Tower View Investment Management & Research LLC grew its holdings in Mastercard by 240.0% in the first quarter. Tower View Investment Management & Research LLC now owns 85 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 60 shares during the period. Sittner & Nelson LLC acquired a new stake in Mastercard in the fourth quarter worth $31,000. Finally, Grandview Asset Management LLC acquired a new stake in Mastercard in the first quarter worth $33,000. 74.00% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael Fraccaro sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $364.24, for a total value of $1,000,931.52. Following the completion of the sale, the insider now directly owns 9,014 shares in the company, valued at approximately $3,283,259.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin Stanton sold 29,052 shares of the company’s stock in a transaction on Monday, April 12th. The shares were sold at an average price of $378.09, for a total transaction of $10,984,270.68. Following the sale, the insider now owns 31,092 shares of the company’s stock, valued at $11,755,574.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,015 shares of company stock valued at $17,405,702. Corporate insiders own 0.33% of the company’s stock.

Shares of NYSE:MA traded up $0.98 during trading on Friday, reaching $365.28. The stock had a trading volume of 48,410 shares, compared to its average volume of 3,911,867. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $362.01 billion, a PE ratio of 55.79, a PEG ratio of 2.13 and a beta of 1.19. The firm has a 50-day simple moving average of $372.08. Mastercard Incorporated has a 52 week low of $281.20 and a 52 week high of $401.50.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, April 29th. The credit services provider reported $1.74 EPS for the quarter, topping the consensus estimate of $1.55 by $0.19. Mastercard had a net margin of 42.38% and a return on equity of 100.68%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Mastercard Incorporated will post 7.75 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the stock. Truist Securities raised their price target on shares of Mastercard from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, March 9th. Mizuho boosted their price objective on shares of Mastercard from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Jefferies Financial Group boosted their price objective on shares of Mastercard from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Barclays lifted their target price on shares of Mastercard from $440.00 to $452.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Mastercard from $418.00 to $444.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Mastercard presently has a consensus rating of “Buy” and a consensus target price of $391.48.

About Mastercard

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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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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