City National Bank of Florida MSD Buys New Stake in Mastercard Incorporated (NYSE:MA)

City National Bank of Florida MSD acquired a new stake in Mastercard Incorporated (NYSE:MA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,159 shares of the credit services provider’s stock, valued at approximately $610,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Whalerock Point Partners LLC increased its stake in Mastercard by 1.3% in the 4th quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider’s stock valued at $7,729,000 after purchasing an additional 185 shares in the last quarter. Dock Street Asset Management Inc. raised its holdings in Mastercard by 4.5% in the 4th quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock valued at $35,932,000 after acquiring an additional 2,931 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Mastercard by 1.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 71,862 shares of the credit services provider’s stock worth $37,841,000 after buying an additional 1,194 shares during the last quarter. Avestar Capital LLC boosted its position in shares of Mastercard by 10.9% in the fourth quarter. Avestar Capital LLC now owns 5,612 shares of the credit services provider’s stock worth $2,955,000 after acquiring an additional 550 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Mastercard in the 4th quarter valued at $6,022,224,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MA has been the subject of several research reports. Monness Crespi & Hardt downgraded shares of Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. Barclays raised their price target on shares of Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their target price on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. Finally, Macquarie decreased their target price on shares of Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $606.25.

Insider Transactions at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’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 value of $3,813,337.76. Following the transaction, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. The trade was a 15.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,207 shares of company stock valued at $12,664,529 over the last quarter. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Mastercard stock opened at $569.43 on Thursday. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $588.45. The firm’s 50 day simple moving average is $538.94 and its 200-day simple moving average is $536.96. 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 company has a market cap of $519.16 billion, a P/E ratio of 41.00, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. The firm had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the company posted $3.31 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current 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.