Independence Bank of Kentucky Buys 62 Shares of Mastercard Incorporated (NYSE:MA)

Independence Bank of Kentucky increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,797 shares of the credit services provider’s stock after purchasing an additional 62 shares during the quarter. Independence Bank of Kentucky’s holdings in Mastercard were worth $3,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewSquare Capital LLC acquired a new stake in Mastercard during the 4th quarter worth $26,000. Marshall Investment Management LLC acquired a new stake in shares of Mastercard during the fourth quarter worth $30,000. Measured Risk Portfolios Inc. bought a new stake in Mastercard in the fourth quarter valued at about $31,000. Halbert Hargrove Global Advisors LLC acquired a new position in Mastercard in the fourth quarter valued at about $32,000. Finally, Navigoe LLC acquired a new position in Mastercard in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Up 0.8%

Shares of MA stock opened at $590.03 on Friday. The firm’s fifty day moving average price is $547.49 and its two-hundred day moving average price is $541.73. 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 Incorporated has a 1 year low of $428.86 and a 1 year high of $591.16. The firm has a market capitalization of $537.94 billion, a P/E ratio of 42.48, a PEG ratio of 2.37 and a beta of 1.05.

Mastercard (NYSE:MA) last released its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The business had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the business earned $3.31 earnings per share. Mastercard’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Insider Transactions at Mastercard

In related news, CEO Michael Miebach sold 15,775 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the sale, the chief executive officer now directly owns 84,871 shares in the company, valued at approximately $46,692,629.36. This trade represents a 15.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sandra A. Arkell sold 150 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $569.45, for a total value of $85,417.50. Following the transaction, the insider now directly owns 3,555 shares in the company, valued at approximately $2,024,394.75. This trade represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,258 shares of company stock worth $20,885,067 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group upped their price target on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday. Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Truist Financial started coverage on shares of Mastercard in a research report on Monday, June 2nd. They set a “buy” rating and a $640.00 price target on the stock. KeyCorp boosted their price target on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Evercore ISI began coverage on Mastercard in a research note on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price objective on the stock. Seven research 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 currently has an average rating of “Moderate Buy” and an average target price of $610.00.

Mastercard Company 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.