Parsons Capital Management Inc. RI Sells 1,126 Shares of Mastercard Incorporated (NYSE:MA)

Parsons Capital Management Inc. RI reduced its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 8.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,321 shares of the credit services provider's stock after selling 1,126 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Mastercard were worth $6,753,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MA. Norges Bank purchased a new position in Mastercard during the fourth quarter worth about $6,022,224,000. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 8,213,123 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Mastercard in the fourth quarter worth $837,017,000. Proficio Capital Partners LLC grew 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 purchasing an additional 1,553,329 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Trading Up 0.9%

Mastercard stock traded up $5.31 during trading hours on Tuesday, reaching $589.64. The stock had a trading volume of 2,133,724 shares, compared to its average volume of 2,600,844. The company has a fifty day simple moving average of $548.23 and a 200-day simple moving average of $542.56. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $591.16. The stock has a market cap of $537.58 billion, a PE ratio of 42.45, a PEG ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03.

Mastercard (NYSE:MA - Get Free Report) last posted its 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 company had revenue of $7.25 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the firm earned $3.31 earnings per share. Mastercard's quarterly revenue was up 14.2% on a year-over-year basis. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sandra A. Arkell sold 150 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the completion of the sale, the insider now directly owns 3,555 shares of the company's stock, valued at approximately $2,024,394.75. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 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 represents a 15.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,258 shares of company stock worth $20,885,067. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MA shares. Citigroup upped their price target on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Evercore ISI assumed coverage on shares of Mastercard in a report on Wednesday, April 9th. They set an "in-line" rating and a $550.00 target price on the stock. Tigress Financial reissued a "strong-buy" rating on shares of Mastercard in a report on Monday, March 10th. Truist Financial began coverage on Mastercard in a research report on Monday, June 2nd. They issued a "buy" rating and a $640.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $633.00 price target on shares of Mastercard in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.