Confluence Investment Management LLC Cuts Holdings in Mastercard Incorporated (NYSE:MA)

Confluence Investment Management LLC trimmed its position in Mastercard Incorporated (NYSE:MA - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,754 shares of the credit services provider's stock after selling 6,295 shares during the period. Mastercard comprises 1.4% of Confluence Investment Management LLC's portfolio, making the stock its 26th biggest holding. Confluence Investment Management LLC's holdings in Mastercard were worth $94,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Mastercard in the 4th quarter worth $6,022,224,000. Raymond James Financial Inc. purchased a new position in shares of Mastercard during the 4th quarter valued at about $837,017,000. Proficio Capital Partners LLC lifted its position in shares of Mastercard by 79,739.7% during 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 in the last quarter. Northern Trust Corp lifted its position in shares of Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after buying an additional 1,207,787 shares in the last quarter. Finally, Sanders Capital LLC purchased a new position in shares of Mastercard during the 4th quarter valued at about $617,303,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MA. KeyCorp lifted their price objective on Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Monness Crespi & Hardt cut Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Citigroup lifted their price objective on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $633.00 price objective on shares of Mastercard in a research report on Wednesday, April 2nd. Finally, DZ Bank raised Mastercard from a "hold" rating to a "buy" rating and set a $620.00 price target on the stock in a report on Tuesday, February 4th. Six 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $609.66.

Mastercard Trading Down 1.5%

NYSE:MA traded down $8.59 during midday trading on Monday, hitting $577.02. 847,108 shares of the company traded hands, compared to its average volume of 2,603,069. The firm's fifty day moving average is $543.93 and its 200-day moving average is $539.80. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $588.45. The firm has a market capitalization of $526.07 billion, a P/E ratio of 41.53, a P/E/G ratio of 2.37 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA - Get Free Report) last announced 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 business had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.31 earnings per share. On average, sell-side analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Insiders Place Their Bets

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now owns 34,524 shares in the company, valued at $18,459,292.32. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sandra A. Arkell sold 150 shares of the stock in a transaction on 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 sale, the insider now owns 3,555 shares in the company, valued at approximately $2,024,394.75. The trade was a 4.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,207 shares of company stock valued at $12,664,529 over the last 90 days. Insiders own 0.10% of the company's stock.

About Mastercard

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.