Insight Wealth Strategies LLC trimmed its position in Mastercard Inc (NYSE:MA) by 46.2% in the first quarter, HoldingsChannel.com reports. The firm owned 4,728 shares of the credit services provider’s stock after selling 4,066 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Mastercard were worth $1,113,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clarius Group LLC lifted its position in shares of Mastercard by 45.9% during the 4th quarter. Clarius Group LLC now owns 2,355 shares of the credit services provider’s stock valued at $444,000 after acquiring an additional 741 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Mastercard by 1.0% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 9,858 shares of the credit services provider’s stock valued at $1,860,000 after acquiring an additional 101 shares during the last quarter. FTB Advisors Inc. lifted its position in shares of Mastercard by 5.1% during the 4th quarter. FTB Advisors Inc. now owns 1,271 shares of the credit services provider’s stock valued at $239,000 after acquiring an additional 62 shares during the last quarter. Fort L.P. lifted its position in shares of Mastercard by 73.5% during the 4th quarter. Fort L.P. now owns 8,274 shares of the credit services provider’s stock valued at $1,561,000 after acquiring an additional 3,506 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Mastercard by 14.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 42,036 shares of the credit services provider’s stock valued at $7,930,000 after acquiring an additional 5,194 shares during the last quarter. Hedge funds and other institutional investors own 75.29% of the company’s stock.
In other news, CEO Ajay Banga sold 252,600 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $250.92, for a total value of $63,382,392.00. Following the transaction, the chief executive officer now directly owns 427,638 shares of the company’s stock, valued at $107,302,926.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Timothy H. Murphy sold 60,428 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $230.31, for a total transaction of $13,917,172.68. Following the completion of the transaction, the general counsel now directly owns 46,331 shares in the company, valued at $10,670,492.61. The disclosure for this sale can be found here. Insiders sold 381,530 shares of company stock worth $93,705,711 over the last ninety days. 0.32% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Mastercard had a net margin of 40.82% and a return on equity of 129.95%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Mastercard’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Mastercard Inc will post 7.6 EPS for the current year.
MA has been the subject of a number of recent research reports. Barclays reiterated a “buy” rating on shares of Mastercard in a research report on Sunday, February 3rd. UBS Group increased their target price on Mastercard from $247.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Wedbush increased their target price on Mastercard from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Jefferies Financial Group initiated coverage on Mastercard in a report on Monday, January 28th. They issued a “buy” rating for the company. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $277.00 target price for the company in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $247.58.
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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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