Taylor Cottrill Erickson & Associates Inc. Trims Position in Mastercard Incorporated (MA)
Taylor Cottrill Erickson & Associates Inc. cut its stake in Mastercard Incorporated (NYSE:MA) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,971 shares of the credit services provider’s stock after selling 400 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Mastercard were worth $3,397,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Harbour Capital Advisors LLC lifted its position in Mastercard by 12,045.1% in the second quarter. Harbour Capital Advisors LLC now owns 50,645 shares of the credit services provider’s stock valued at $417,000 after acquiring an additional 50,228 shares during the last quarter. IBM Retirement Fund lifted its position in Mastercard by 68.8% in the second quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock valued at $3,128,000 after acquiring an additional 9,397 shares during the last quarter. NGAM Advisors L.P. lifted its position in Mastercard by 3.9% in the second quarter. NGAM Advisors L.P. now owns 137,876 shares of the credit services provider’s stock valued at $16,746,000 after acquiring an additional 5,224 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in Mastercard by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 39,173 shares of the credit services provider’s stock valued at $4,758,000 after acquiring an additional 1,651 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its position in Mastercard by 1.5% in the second quarter. Boston Financial Mangement LLC now owns 125,365 shares of the credit services provider’s stock valued at $15,226,000 after acquiring an additional 1,855 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.
In other Mastercard news, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares in the company, valued at approximately $22,138,280.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 87,623 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the sale, the insider now owns 112,240,179 shares in the company, valued at $14,517,144,751.86. The disclosure for this sale can be found here. Insiders have sold a total of 850,468 shares of company stock worth $109,574,694 over the last 90 days. 0.30% of the stock is owned by insiders.
Mastercard Incorporated (NYSE MA) opened at 141.99 on Tuesday. The firm has a market capitalization of $151.20 billion, a price-to-earnings ratio of 35.23 and a beta of 1.18. Mastercard Incorporated has a 12 month low of $98.38 and a 12 month high of $141.99. The firm’s 50-day moving average is $131.47 and its 200 day moving average is $121.14.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $0.96 EPS. Mastercard’s revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Mastercard Incorporated will post $4.43 earnings per share for the current year.
A number of equities research analysts recently weighed in on MA shares. Deutsche Bank AG reissued a “buy” rating and issued a $124.00 price target on shares of Mastercard in a research report on Thursday, May 25th. BidaskClub cut shares of Mastercard from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Citigroup Inc. boosted their price target on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research report on Wednesday, July 5th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Mastercard in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $137.38.
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Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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