Canoe Financial LP Cuts Stock Holdings in Mastercard Incorporated (NYSE:MA)

Canoe Financial LP lowered its position in Mastercard Incorporated (NYSE:MA - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 332,231 shares of the credit services provider's stock after selling 21,000 shares during the period. Mastercard accounts for about 2.9% of Canoe Financial LP's holdings, making the stock its 9th biggest position. Canoe Financial LP's holdings in Mastercard were worth $182,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp boosted its holdings in Mastercard by 7.2% in the first quarter. Dupont Capital Management Corp now owns 49,045 shares of the credit services provider's stock worth $26,883,000 after acquiring an additional 3,288 shares in the last quarter. Rockline Wealth Management LLC boosted its holdings in Mastercard by 6.5% in the first quarter. Rockline Wealth Management LLC now owns 8,335 shares of the credit services provider's stock worth $4,569,000 after acquiring an additional 507 shares in the last quarter. Evanson Asset Management LLC boosted its holdings in Mastercard by 12.2% in the first quarter. Evanson Asset Management LLC now owns 2,502 shares of the credit services provider's stock worth $1,372,000 after acquiring an additional 273 shares in the last quarter. Davies Financial Advisors Inc. boosted its holdings in Mastercard by 1.6% in the first quarter. Davies Financial Advisors Inc. now owns 1,743 shares of the credit services provider's stock worth $955,000 after acquiring an additional 27 shares in the last quarter. Finally, Advisor Resource Council bought a new position in shares of Mastercard in the first quarter valued at approximately $1,029,000. Institutional investors own 97.28% of the company's stock.

Insider Activity at Mastercard

In related news, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $569.45, for a total transaction of $85,417.50. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on 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 sale, the chief executive officer now directly owns 84,871 shares of the company's stock, valued at $46,692,629.36. This represents a 15.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,513 shares of company stock valued at $23,166,463. Company insiders own 0.09% of the company's stock.

Mastercard Price Performance

Shares of NYSE MA opened at $532.18 on Friday. The stock has a market cap of $485.19 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $594.71. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $559.72 and a 200-day moving average of $544.51.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly 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. The company had revenue of $7.25 billion during the quarter, compared to analysts' expectations of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.31 earnings per share. Equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MA shares. Macquarie dropped their target price on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Truist Financial started coverage on Mastercard in a report on Monday, June 2nd. They issued a "buy" rating and a $640.00 target price on the stock. Wall Street Zen lowered Mastercard from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. The Goldman Sachs Group restated a "buy" rating and issued a $633.00 target price on shares of Mastercard in a report on Wednesday, April 2nd. Finally, KeyCorp raised their target price on Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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