Symphony Financial Ltd. Co. Cuts Holdings in Mastercard Incorporated (NYSE:MA)

Symphony Financial Ltd. Co. lowered its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 64.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,939 shares of the credit services provider's stock after selling 5,269 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Mastercard were worth $1,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Consolidated Portfolio Review Corp increased its holdings in shares of Mastercard by 10.6% in the 1st quarter. Consolidated Portfolio Review Corp now owns 1,611 shares of the credit services provider's stock valued at $883,000 after acquiring an additional 154 shares during the last quarter. Hofer & Associates. Inc increased its holdings in shares of Mastercard by 7.7% in the 1st quarter. Hofer & Associates. Inc now owns 655 shares of the credit services provider's stock valued at $359,000 after acquiring an additional 47 shares during the last quarter. AssuredPartners Investment Advisors LLC increased its holdings in shares of Mastercard by 2.2% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 2,028 shares of the credit services provider's stock valued at $1,111,000 after acquiring an additional 44 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Mastercard by 3.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 410,047 shares of the credit services provider's stock valued at $224,755,000 after acquiring an additional 15,342 shares during the last quarter. Finally, Chapin Davis Inc. increased its holdings in shares of Mastercard by 182.2% in the 1st quarter. Chapin Davis Inc. now owns 1,154 shares of the credit services provider's stock valued at $633,000 after acquiring an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Activity at Mastercard

In related news, insider Sandra A. Arkell sold 150 shares of the firm'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 completion of the transaction, the insider now directly owns 3,555 shares of the company's stock, valued at $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 available at this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of the firm's stock in a transaction that occurred on 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 $46,692,629.36. The trade was a 15.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,890 shares of company stock valued at $27,003,492 in the last ninety days. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MA shares. KeyCorp raised their price target on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and set a $633.00 price target on shares of Mastercard in a research note on Wednesday, April 2nd. Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They set a "buy" rating and a $640.00 price target on the stock. Tigress Financial restated a "strong-buy" rating on shares of Mastercard in a research note on Monday, March 10th. Finally, Macquarie dropped their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research note 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $610.00.

Mastercard Stock Up 1.8%

MA opened at $542.63 on Tuesday. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $560.33 and a 200-day simple moving average of $544.91. The stock has a market capitalization of $494.72 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.32 and a beta of 1.05. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $594.71.

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

Mastercard 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.

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