Castle Rock Wealth Management LLC Sells 962 Shares of Mastercard Incorporated (NYSE:MA)

Castle Rock Wealth Management LLC trimmed its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 19.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,905 shares of the credit services provider's stock after selling 962 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Mastercard were worth $2,138,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. NewSquare Capital LLC bought a new stake in Mastercard during the 4th quarter worth about $26,000. Measured Risk Portfolios Inc. bought a new stake in Mastercard during the 4th quarter worth about $31,000. Halbert Hargrove Global Advisors LLC bought a new stake in Mastercard during the 4th quarter worth about $32,000. Marshall Investment Management LLC bought a new stake in Mastercard during the 4th quarter worth about $30,000. Finally, 10Elms LLP bought a new stake in Mastercard during the 4th quarter worth about $33,000. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Up 0.3%

NYSE:MA traded up $1.77 during trading hours on Thursday, reaching $585.90. 557,030 shares of the stock were exchanged, compared to its average volume of 2,597,717. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month 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 firm has a 50 day moving average of $545.93 and a 200 day moving average of $540.81. The stock has a market cap of $534.17 billion, a PE ratio of 42.18, a PEG ratio of 2.37 and a beta of 1.05.

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 company 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 firm's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.31 EPS. On average, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Insider Activity

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 84,871 shares in the company, valued at $46,692,629.36. This trade represents a 15.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm'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 transaction, the insider now directly owns 34,524 shares in the company, 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. In the last 90 days, insiders sold 23,207 shares of company stock valued at $12,664,529. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MA. Evercore ISI began coverage on Mastercard in a research report on Wednesday, April 9th. They set an "in-line" rating and a $550.00 target price for the company. Macquarie decreased their target price on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group boosted their target price on Mastercard from $630.00 to $655.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Monness Crespi & Hardt lowered Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Citigroup boosted 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. 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 stock. According to MarketBeat, Mastercard has an average rating of "Moderate Buy" and an average target price of $610.00.

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.