Handelsbanken Fonder AB Sells 72,858 Shares of Mastercard Incorporated (NYSE:MA)

Handelsbanken Fonder AB decreased its stake in Mastercard Incorporated (NYSE:MA) by 11.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 589,361 shares of the credit services provider’s stock after selling 72,858 shares during the quarter. Mastercard accounts for about 1.3% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 10th largest holding. Handelsbanken Fonder AB owned 0.06% of Mastercard worth $323,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after buying an additional 2,028 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Mastercard during the 4th quarter valued at about $83,644,000. Angeles Wealth Management LLC grew its stake in Mastercard by 2.1% during the 4th quarter. Angeles Wealth Management LLC now owns 6,282 shares of the credit services provider’s stock valued at $3,308,000 after acquiring an additional 132 shares in the last quarter. Canvas Wealth Advisors LLC increased its holdings in shares of Mastercard by 8.5% in the 4th quarter. Canvas Wealth Advisors LLC now owns 1,207 shares of the credit services provider’s stock valued at $636,000 after purchasing an additional 95 shares during the period. Finally, Harbour Trust & Investment Management Co lifted its position in shares of Mastercard by 0.6% in the fourth quarter. Harbour Trust & Investment Management Co now owns 40,008 shares of the credit services provider’s stock worth $21,067,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Trading Down 1.0%

MA stock opened at $584.39 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The firm has a market cap of $532.79 billion, a P/E ratio of 42.07, a P/E/G ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $591.16. The business’s 50 day moving average is $548.23 and its 200-day moving average is $542.56.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.31 earnings per share. Equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MA shares. Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Truist Financial started coverage on Mastercard in a research report on Monday, June 2nd. They issued a “buy” rating and a $640.00 target price on the stock. KeyCorp lifted their price target on Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Macquarie dropped their price objective on Mastercard from $645.00 to $610.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday. 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 company’s stock. According to MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average target price of $610.00.

Insider Buying and Selling

In related news, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $569.45, for a total value of $85,417.50. Following the completion of the transaction, the insider now directly owns 3,555 shares of the company’s stock, valued at $2,024,394.75. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the transaction, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,258 shares of company stock worth $20,885,067 in the last quarter. 0.09% of the stock is owned by corporate insiders.

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.