Sagace Wealth Management LLC Has $426,000 Stake in Mastercard Incorporated (NYSE:MA)

Sagace Wealth Management LLC reduced its stake in Mastercard Incorporated (NYSE:MA) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 778 shares of the credit services provider’s stock after selling 287 shares during the period. Sagace Wealth Management LLC’s holdings in Mastercard were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Mastercard in the 4th quarter valued at approximately $6,022,224,000. GAMMA Investing LLC increased its holdings in Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mastercard during the fourth quarter valued at about $837,017,000. Proficio Capital Partners LLC raised its holdings 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 buying an additional 1,553,329 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 acquiring an additional 1,207,787 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Up 0.2%

MA stock opened at $590.78 on Thursday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $594.71. The firm’s 50-day moving average is $551.43 and its 200 day moving average is $543.22. The company has a market capitalization of $538.62 billion, a PE ratio of 42.53, 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 (NYSE:MA) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping 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 prior year, the company earned $3.31 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. On average, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares of the company’s stock, valued at $46,692,629.36. The trade was a 15.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Vosburg sold 14,051 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were 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 of the company’s stock, valued at $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,258 shares of company stock valued at $20,885,067. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group restated a “buy” rating and set a $633.00 target price on shares of Mastercard in a research report on Wednesday, April 2nd. Truist Financial began coverage on Mastercard in a report on Monday, June 2nd. They issued a “buy” rating and a $640.00 price target for the company. UBS Group boosted their target price on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Evercore ISI began coverage on Mastercard in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price for the company. Finally, Citigroup boosted their price target on shares of Mastercard from $650.00 to $652.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Seven equities 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. According to data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $610.00.

Mastercard 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.