Reliant Investment Management LLC Increases Stock Position in Mastercard Incorporated (NYSE:MA)

Reliant Investment Management LLC grew its position in shares of Mastercard Incorporated (NYSE:MA) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,578 shares of the credit services provider’s stock after buying an additional 84 shares during the quarter. Mastercard makes up approximately 3.0% of Reliant Investment Management LLC’s portfolio, making the stock its 18th largest holding. Reliant Investment Management LLC’s holdings in Mastercard were worth $5,798,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in shares of Mastercard in the 4th quarter valued at about $26,000. Marshall Investment Management LLC acquired a new position in Mastercard during the fourth quarter worth approximately $30,000. Measured Risk Portfolios Inc. purchased a new stake in Mastercard in the fourth quarter valued at approximately $31,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at approximately $32,000. Finally, Navigoe LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. KeyCorp lifted their target price on shares of Mastercard from $630.00 to $635.00 and gave the company 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. Truist Financial assumed coverage on shares of Mastercard in a research note on Monday, June 2nd. They issued a “buy” rating and a $640.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday. Finally, UBS Group raised their price target on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. Seven investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $610.00.

Insider Transactions at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the transaction, the insider now owns 58,451 shares of the company’s stock, valued at approximately $34,196,757.55. The trade was a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,258 shares of company stock valued at $20,885,067 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Stock Performance

Shares of MA opened at $590.03 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $591.16. The company has a 50-day simple moving average of $547.49 and a 200-day simple moving average of $541.73. The company has a market capitalization of $537.94 billion, a PE ratio of 42.48, a P/E/G ratio of 2.37 and a beta of 1.05.

Mastercard (NYSE:MA) last issued its earnings results 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 net margin of 45.71% and a return on equity of 188.47%. The company had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business posted $3.31 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

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.