Grove Bank & Trust Boosts Stock Holdings in Mastercard Incorporated (NYSE:MA)

Grove Bank & Trust grew its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,464 shares of the credit services provider's stock after purchasing an additional 1,074 shares during the period. Grove Bank & Trust's holdings in Mastercard were worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MA. Addison Advisors LLC raised its stake in Mastercard by 3.8% during the fourth quarter. Addison Advisors LLC now owns 493 shares of the credit services provider's stock worth $260,000 after acquiring an additional 18 shares during the period. Richard W. Paul & Associates LLC grew its position in Mastercard by 0.9% in the 4th quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider's stock worth $1,182,000 after purchasing an additional 19 shares during the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of Mastercard by 2.9% in the fourth quarter. Founders Financial Alliance LLC now owns 676 shares of the credit services provider's stock valued at $356,000 after acquiring an additional 19 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in shares of Mastercard by 2.3% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 846 shares of the credit services provider's stock valued at $445,000 after acquiring an additional 19 shares in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC boosted its holdings in shares of Mastercard by 2.6% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 736 shares of the credit services provider's stock valued at $388,000 after acquiring an additional 19 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 84,871 shares of the company's stock, valued at approximately $46,692,629.36. The trade was a 15.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the business'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 completion of the transaction, the insider now directly owns 34,524 shares of the company's stock, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,645 shares of company stock valued at $26,979,801. Insiders own 0.09% of the company's stock.

Mastercard Price Performance

NYSE:MA opened at $568.52 on Tuesday. The company has a 50-day moving average of $556.98 and a 200-day moving average of $544.29. The company has a market capitalization of $518.32 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $594.71. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. KeyCorp raised their target price on shares of Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. UBS Group upped their price target on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Evercore ISI began coverage on shares of Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price for the company. The Goldman Sachs Group restated a "buy" rating and set a $633.00 price target on shares of Mastercard in a report on Wednesday, April 2nd. Finally, Citigroup raised their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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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