Mastercard Incorporated (NYSE:MA) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,461 shares of the credit services provider’s stock after selling 1,120 shares during the quarter. Mastercard accounts for approximately 1.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Sawgrass Asset Management LLC’s holdings in Mastercard were worth $14,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its holdings in Mastercard by 2.9% during the 3rd quarter. Northern Trust Corp now owns 9,075,358 shares of the credit services provider’s stock worth $3,593,025,000 after buying an additional 251,516 shares during the period. Jennison Associates LLC boosted its position in shares of Mastercard by 6.9% in the third quarter. Jennison Associates LLC now owns 7,966,348 shares of the credit services provider’s stock worth $3,153,957,000 after buying an additional 515,481 shares during the period. Ameriprise Financial Inc. raised its position in Mastercard by 5.9% during the third quarter. Ameriprise Financial Inc. now owns 5,510,259 shares of the credit services provider’s stock valued at $2,181,964,000 after buying an additional 306,663 shares during the period. Royal Bank of Canada lifted its stake in Mastercard by 1.1% in the 3rd quarter. Royal Bank of Canada now owns 5,314,881 shares of the credit services provider’s stock worth $2,104,214,000 after acquiring an additional 56,642 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Mastercard by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,665,483 shares of the credit services provider’s stock worth $1,989,875,000 after acquiring an additional 107,953 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen initiated coverage on Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 target price for the company. Robert W. Baird upped their price objective on shares of Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. BMO Capital Markets boosted their target price on shares of Mastercard from $480.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Raymond James lifted their price objective on Mastercard from $452.00 to $504.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and an average target price of $496.27.

Mastercard Trading Up 0.4 %

NYSE:MA traded up $1.92 on Wednesday, reaching $454.98. The company’s stock had a trading volume of 2,332,407 shares, compared to its average volume of 2,469,699. The firm has a market cap of $424.45 billion, a PE ratio of 36.17, a PEG ratio of 1.74 and a beta of 1.08. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day moving average price is $468.64 and its two-hundred day moving average price is $439.23. Mastercard Incorporated has a 1-year low of $357.85 and a 1-year high of $490.00.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 EPS. Equities research analysts anticipate that Mastercard Incorporated will post 14.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Mastercard

In other news, insider Sandra A. Arkell sold 300 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total transaction of $136,200.00. Following the transaction, the insider now directly owns 3,463 shares in the company, valued at approximately $1,572,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $487.25, for a total transaction of $97,450.00. Following the completion of the sale, the insider now directly owns 97,543,308 shares in the company, valued at $47,527,976,823. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sandra A. Arkell sold 300 shares of Mastercard stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $454.00, for a total value of $136,200.00. Following the sale, the insider now directly owns 3,463 shares of the company’s stock, valued at $1,572,202. The disclosure for this sale can be found here. Insiders sold a total of 872,688 shares of company stock worth $395,722,487 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.