Contravisory Investment Management Inc. Decreases Stake in Mastercard Incorporated (NYSE:MA)

Contravisory Investment Management Inc. cut its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,700 shares of the credit services provider's stock after selling 462 shares during the quarter. Mastercard makes up approximately 2.0% of Contravisory Investment Management Inc.'s investment portfolio, making the stock its 12th largest position. Contravisory Investment Management Inc.'s holdings in Mastercard were worth $9,702,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Mastercard in the 4th quarter valued at about $6,022,224,000. GAMMA Investing LLC boosted its position in Mastercard by 65,631.5% during 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Mastercard in the fourth quarter valued at approximately $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 valued at $818,962,000 after buying an additional 1,553,329 shares in the last quarter. 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 valued at $4,817,684,000 after buying an additional 1,207,787 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research report on Tuesday. KeyCorp increased their price objective on shares of Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Citigroup boosted their target price on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Monness Crespi & Hardt downgraded shares of Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Evercore ISI began coverage on shares of Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $610.00.

Insider Activity at Mastercard

In other Mastercard news, insider Sandra A. Arkell sold 150 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $569.45, for a total transaction of $85,417.50. Following the sale, the insider now directly owns 3,555 shares in the company, valued at $2,024,394.75. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 owns 34,524 shares of the company's stock, valued at $18,459,292.32. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,207 shares of company stock worth $12,664,529. Company insiders own 0.09% of the company's stock.

Mastercard Trading Up 0.1%

MA traded up $0.63 during trading hours on Thursday, reaching $584.76. The company's stock had a trading volume of 1,479,651 shares, compared to its average volume of 2,601,280. The stock has a market cap of $533.13 billion, a PE ratio of 42.10, a P/E/G ratio of 2.37 and a beta of 1.05. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $588.45. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The business's 50-day moving average is $545.93 and its 200-day moving average is $540.81.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.16. The company had revenue of $7.25 billion for 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 revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.31 earnings per share. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

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.