Summit Global Investments Has $8.27 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Summit Global Investments reduced its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 16.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,089 shares of the credit services provider's stock after selling 3,027 shares during the quarter. Mastercard accounts for 0.6% of Summit Global Investments' portfolio, making the stock its 28th largest position. Summit Global Investments' holdings in Mastercard were worth $8,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in shares of Mastercard in the fourth quarter worth $26,000. Marshall Investment Management LLC acquired a new stake in Mastercard in the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new stake in Mastercard during the 4th quarter worth about $31,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Mastercard during the 4th quarter worth about $32,000. Finally, Navigoe LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at about $33,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Sandra A. Arkell sold 150 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $580.00, for a total transaction of $87,000.00. Following the sale, the insider now owns 3,255 shares in the company, valued at approximately $1,887,900. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the business's 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 transaction, the insider now owns 34,524 shares of the company's stock, 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. Over the last quarter, insiders have sold 23,207 shares of company stock worth $12,664,529. Company insiders own 0.10% of the company's stock.

Mastercard Price Performance

Shares of NYSE MA traded up $5.49 during midday trading on Friday, reaching $583.27. The company's stock had a trading volume of 4,581,021 shares, compared to its average volume of 2,610,146. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $531.77 billion, a P/E ratio of 41.99, a P/E/G ratio of 2.37 and a beta of 1.06. The business's 50 day moving average price is $543.93 and its two-hundred day moving average price is $539.67. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $588.45.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analysts' expectations of $7.12 billion. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.31 EPS. On average, analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MA. UBS Group increased their price target on Mastercard from $640.00 to $660.00 and gave the company a "buy" rating in a research report on Wednesday. Monness Crespi & Hardt downgraded Mastercard from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Citigroup boosted their target price on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Macquarie dropped their price target on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Mastercard in a research report on Monday, March 10th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and a consensus price target of $608.57.

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.