Sawgrass Asset Management LLC Sells 1,009 Shares of Mastercard Incorporated (NYSE:MA)

Sawgrass Asset Management LLC cut its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,227 shares of the credit services provider's stock after selling 1,009 shares during the quarter. Mastercard makes up approximately 1.9% of Sawgrass Asset Management LLC's portfolio, making the stock its 10th biggest position. Sawgrass Asset Management LLC's holdings in Mastercard were worth $15,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in shares of Mastercard in the 4th quarter valued at approximately $26,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Mastercard during the 4th quarter worth $31,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Mastercard during the fourth quarter worth $32,000. Marshall Investment Management LLC purchased a new position in Mastercard in the fourth quarter valued at $30,000. Finally, 10Elms LLP purchased a new position in Mastercard in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Activity

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares of the company's stock, valued at approximately $46,692,629.36. This trade represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sandra A. Arkell sold 150 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $569.45, for a total value 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 trade represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,513 shares of company stock valued at $23,166,463 in the last three months. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MA has been the subject of several analyst reports. Macquarie lowered their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Evercore ISI assumed coverage on Mastercard in a report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price target for the company. UBS Group increased their price target on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Monness Crespi & Hardt cut shares of Mastercard from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, KeyCorp upped their target price on shares of Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Seven equities research 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 company's stock. According to MarketBeat, Mastercard has a consensus rating of "Moderate Buy" and an average price target of $610.00.

Mastercard Stock Down 1.2%

Shares of Mastercard stock opened at $532.18 on Monday. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The company has a market cap of $485.19 billion, a P/E ratio of 37.32, a PEG ratio of 2.32 and a beta of 1.05. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average of $559.72 and a two-hundred day moving average of $544.81.

Mastercard (NYSE:MA - Get Free Report) last posted 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 net margin of 45.21% and a return on equity of 196.87%. The firm had revenue of $7.25 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the prior year, the company posted $3.31 earnings per share. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.