Harbor Capital Advisors Inc. Sells 6,240 Shares of Mastercard Incorporated (NYSE:MA)

Harbor Capital Advisors Inc. lowered its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 34.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,112 shares of the credit services provider's stock after selling 6,240 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Mastercard were worth $6,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MA. Norges Bank bought a new position in shares of Mastercard in the fourth quarter worth $6,022,224,000. GAMMA Investing LLC increased its position in shares of Mastercard by 65,631.5% in the first 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 during the period. Raymond James Financial Inc. bought a new position in shares of Mastercard in the fourth quarter worth $837,017,000. Proficio Capital Partners LLC increased its position in shares of Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the period. Finally, Northern Trust Corp increased its position in shares of Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock worth $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Activity

In other news, CEO Michael Miebach sold 15,775 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the sale, the chief executive officer now owns 84,871 shares in the company, valued at $46,692,629.36. The trade was a 15.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 of the company's stock, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,258 shares of company stock worth $20,885,067 over the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MA. KeyCorp raised their price target on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Macquarie decreased their target price on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. UBS Group lifted their target price on 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 Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price on the stock. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Mastercard in a research report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $610.00.

Mastercard Stock Down 0.3%

Shares of NYSE MA traded down $1.99 during midday trading on Thursday, hitting $588.75. 1,983,945 shares of the stock traded hands, compared to its average volume of 2,602,282. The company has a market cap of $536.77 billion, a PE ratio of 42.39, a P/E/G ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The business has a 50 day moving average price of $553.50 and a two-hundred day moving average price of $543.65. 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, beating the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The company's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.31 earnings per share. On average, equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

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.