City Holding Co. Decreases Position in Mastercard Incorporated (NYSE:MA)

City Holding Co. reduced its stake in Mastercard Incorporated (NYSE:MA) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,929 shares of the credit services provider’s stock after selling 303 shares during the period. Mastercard accounts for about 1.5% of City Holding Co.’s holdings, making the stock its 12th biggest position. City Holding Co.’s holdings in Mastercard were worth $10,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Mastercard during the 4th quarter worth approximately $6,022,224,000. GAMMA Investing LLC grew its position in shares of Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock worth $4,508,636,000 after acquiring an additional 8,213,123 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Mastercard in the 4th quarter valued at $837,017,000. Proficio Capital Partners LLC raised its position in Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock worth $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They set a “buy” rating and a $640.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $633.00 target price on shares of Mastercard in a research note on Wednesday, April 2nd. UBS Group upped 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. Finally, Wall Street Zen lowered shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.00.

Mastercard Trading Up 0.8%

Shares of Mastercard stock opened at $590.03 on Monday. The business has a 50 day moving average price of $547.49 and a 200 day moving average price of $542.12. The company has a market capitalization of $537.94 billion, a P/E ratio of 42.48, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $595.38.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating 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 firm had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the company posted $3.31 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Insider Transactions at Mastercard

In other news, CEO Michael Miebach sold 15,775 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction 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 $46,692,629.36. This represents a 15.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sandra A. Arkell sold 150 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the sale, the insider now directly owns 3,555 shares of the company’s stock, 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 three months. Company insiders own 0.09% of the company’s stock.

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.