Cambridge Financial Group Inc. cut its stake in shares of Mastercard Inc (NYSE:MA) by 3.4% during the 1st quarter, Holdings Channel reports. The fund owned 21,099 shares of the credit services provider’s stock after selling 740 shares during the period. Mastercard comprises approximately 3.4% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 15th largest position. Cambridge Financial Group Inc.’s holdings in Mastercard were worth $5,097,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of MA. Norges Bank acquired a new position in Mastercard during the fourth quarter worth $2,754,179,000. Private Advisor Group LLC raised its holdings in shares of Mastercard by 101.0% in the fourth quarter. Private Advisor Group LLC now owns 47,225 shares of the credit services provider’s stock valued at $14,041,000 after purchasing an additional 4,942,155 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Mastercard by 637.9% in the first quarter. Fisher Asset Management LLC now owns 3,560,005 shares of the credit services provider’s stock valued at $859,955,000 after purchasing an additional 3,077,542 shares during the last quarter. Veritas Asset Management LLP purchased a new stake in shares of Mastercard in the first quarter valued at about $549,597,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mastercard by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 12,483,087 shares of the credit services provider’s stock valued at $3,727,324,000 after purchasing an additional 772,021 shares during the last quarter. 75.20% of the stock is currently owned by institutional investors and hedge funds.
MA stock traded up $0.65 during trading on Friday, reaching $294.91. 2,895,923 shares of the company traded hands, compared to its average volume of 4,652,697. Mastercard Inc has a 12 month low of $199.99 and a 12 month high of $347.25. The business has a 50 day simple moving average of $266.57 and a 200 day simple moving average of $287.65. The company has a market capitalization of $295.36 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.87 and a current ratio of 1.87.
MA has been the subject of several analyst reports. UBS Group lowered their target price on shares of Mastercard from $345.00 to $315.00 and set a “buy” rating for the company in a report on Friday, May 1st. Piper Sandler lowered their target price on shares of Mastercard from $332.00 to $292.00 in a report on Thursday, March 12th. Morgan Stanley increased their target price on shares of Mastercard from $286.00 to $311.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Nomura restated a “buy” rating and set a $334.00 price objective on shares of Mastercard in a report on Thursday, April 30th. Finally, Wells Fargo & Co decreased their price objective on shares of Mastercard from $370.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $320.46.
In related news, Director Julius Genachowski sold 2,009 shares of Mastercard stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $281.79, for a total transaction of $566,116.11. Following the completion of the sale, the director now owns 7,346 shares of the company’s stock, valued at $2,070,029.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lance Darrell Gordon Uggla bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average cost of $265.00 per share, with a total value of $265,000.00. Following the acquisition, the director now directly owns 5,691 shares of the company’s stock, valued at $1,508,115. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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