Manitou Investment Management Ltd. Boosts Position in Mastercard Incorporated (NYSE:MA)

Manitou Investment Management Ltd. lifted its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,484 shares of the credit services provider's stock after purchasing an additional 2,551 shares during the period. Mastercard accounts for 7.5% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 6th biggest holding. Manitou Investment Management Ltd.'s holdings in Mastercard were worth $38,634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Mastercard by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider's stock worth $40,640,219,000 after purchasing an additional 377,302 shares during the period. FMR LLC lifted its stake in shares of Mastercard by 4.3% during the 4th quarter. FMR LLC now owns 22,267,937 shares of the credit services provider's stock valued at $11,725,627,000 after buying an additional 912,856 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Mastercard by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider's stock valued at $9,800,202,000 after buying an additional 282,739 shares in the last quarter. Norges Bank bought a new position in Mastercard in the 4th quarter worth approximately $6,022,224,000. Finally, Wellington Management Group LLP grew its stake in Mastercard by 9.1% in the 4th quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider's stock valued at $5,139,713,000 after buying an additional 817,836 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

Shares of NYSE MA traded down $27.78 during mid-day trading on Friday, reaching $561.50. 5,902,461 shares of the company were exchanged, compared to its average volume of 2,614,345. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $594.71. The company's 50 day moving average price is $553.50 and its 200 day moving average price is $543.65. The stock has a market capitalization of $511.92 billion, a PE ratio of 40.42, a PEG ratio of 2.37 and a beta of 1.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results 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. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The firm had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the company posted $3.31 earnings per share. The company's revenue was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MA shares. Citigroup increased their target price on Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group boosted their price objective on Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a report on Friday, June 6th. 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, 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $610.00.

Insider Activity at Mastercard

In other news, insider Craig Vosburg sold 14,051 shares of the company's stock in a transaction 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 sale, the insider now owns 58,451 shares of the company's stock, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,258 shares of company stock valued at $20,885,067. Corporate insiders own 0.09% of the company's stock.

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.