Mastercard Incorporated (NYSE:MA) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 14.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 114,546 shares of the credit services provider’s stock after selling 19,986 shares during the quarter. Mastercard makes up about 0.7% of QRG Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. QRG Capital Management Inc.’s holdings in Mastercard were worth $62,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MA. Brighton Jones LLC boosted its holdings in shares of Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after acquiring an additional 2,028 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Mastercard during the fourth quarter valued at about $83,644,000. Bank Pictet & Cie Europe AG boosted its stake in Mastercard by 11.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider’s stock valued at $37,108,000 after buying an additional 7,452 shares in the last quarter. Quadrant Private Wealth Management LLC boosted its stake in Mastercard by 15.6% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 630 shares of the credit services provider’s stock valued at $332,000 after buying an additional 85 shares in the last quarter. Finally, American Financial Advisors LLC bought a new position in Mastercard during the fourth quarter valued at about $208,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Price Performance

Shares of NYSE:MA opened at $561.50 on Monday. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The firm has a market capitalization of $511.92 billion, a PE ratio of 40.42, a PEG ratio of 2.37 and a beta of 1.05. The business’s 50 day moving average is $555.17 and its 200-day moving average is $544.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $3.31 EPS. Mastercard’s revenue for the quarter was up 14.2% compared to the same quarter last year. Sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MA. Citigroup raised their target price on Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Macquarie decreased their price objective on Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group restated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. KeyCorp raised their price objective on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, UBS Group raised their price target on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and an average price target of $610.00.

Insider Activity at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now owns 34,524 shares of the company’s stock, valued at $18,459,292.32. The trade was a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Vosburg sold 14,051 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the transaction, the insider now directly owns 58,451 shares in the company, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,686 shares of company stock valued at $26,430,428 in the last 90 days. 0.09% of the stock is 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.