Cornerstone Wealth Group LLC Sells 126 Shares of Mastercard Incorporated (NYSE:MA)

Cornerstone Wealth Group LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,907 shares of the credit services provider’s stock after selling 126 shares during the period. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $3,238,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Whalerock Point Partners LLC lifted its position in Mastercard by 1.3% during the fourth quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider’s stock worth $7,729,000 after acquiring an additional 185 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Mastercard by 1.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 71,862 shares of the credit services provider’s stock worth $37,841,000 after purchasing an additional 1,194 shares during the period. Kingswood Wealth Advisors LLC increased its stake in Mastercard by 18.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider’s stock valued at $3,766,000 after acquiring an additional 1,047 shares during the last quarter. Baldwin Investment Management LLC increased its stake in Mastercard by 5.7% in the fourth quarter. Baldwin Investment Management LLC now owns 1,731 shares of the credit services provider’s stock valued at $911,000 after acquiring an additional 93 shares during the last quarter. Finally, Norges Bank bought a new position in Mastercard in the fourth quarter valued at approximately $6,022,224,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Tigress Financial restated a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. KeyCorp raised their target price on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Evercore ISI assumed coverage on shares of Mastercard in a report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price target on the stock. Monness Crespi & Hardt lowered shares of Mastercard from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, Macquarie cut their price target on shares of Mastercard from $645.00 to $610.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $610.00.

Insider Buying and Selling at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider now directly owns 58,451 shares of the company’s stock, valued at $20,636,125.55. This represents a 13.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 50,890 shares of company stock worth $27,003,492. Insiders own 0.09% of the company’s stock.

Mastercard Trading Up 1.8%

Shares of MA stock opened at $542.63 on Tuesday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $494.72 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.32 and a beta of 1.05. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $594.71. The company has a 50-day simple moving average of $560.33 and a two-hundred day simple moving average of $544.91.

Mastercard (NYSE:MA) last posted its quarterly earnings data 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. The firm had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $3.31 EPS. Research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

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.