Thrive Wealth Management LLC Has $1.88 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Thrive Wealth Management LLC reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,431 shares of the credit services provider’s stock after selling 326 shares during the quarter. Thrive Wealth Management LLC’s holdings in Mastercard were worth $1,880,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Mastercard by 25.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,638 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 747 shares during the last quarter. Boltwood Capital Management increased its position in Mastercard by 7.3% during the 1st quarter. Boltwood Capital Management now owns 2,204 shares of the credit services provider’s stock worth $1,208,000 after purchasing an additional 149 shares in the last quarter. Fermata Advisors LLC increased its position in Mastercard by 11.9% during the 1st quarter. Fermata Advisors LLC now owns 1,739 shares of the credit services provider’s stock worth $953,000 after purchasing an additional 185 shares in the last quarter. HF Advisory Group LLC lifted its stake in Mastercard by 1.0% in the 1st quarter. HF Advisory Group LLC now owns 3,758 shares of the credit services provider’s stock valued at $2,060,000 after purchasing an additional 36 shares during the last quarter. Finally, Channel Wealth LLC boosted its position in Mastercard by 4.8% in the first quarter. Channel Wealth LLC now owns 500 shares of the credit services provider’s stock valued at $274,000 after buying an additional 23 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction 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. This trade represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,207 shares of company stock worth $12,664,529 over the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Price Performance

Mastercard stock opened at $584.34 on Thursday. The stock has a market capitalization of $532.75 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $588.45. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $545.93 and its two-hundred day moving average price is $540.81.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS 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 company had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the business posted $3.31 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. KeyCorp boosted their price target on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Monness Crespi & Hardt downgraded shares of Mastercard from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 9th. Evercore ISI started coverage on shares of Mastercard in a report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 target price on the stock. Citigroup upped their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Six 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, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.00.

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.