Trustco Bank Corp N Y Purchases New Stake in Mastercard Incorporated (NYSE:MA)

Trustco Bank Corp N Y purchased a new position in shares of Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400 shares of the credit services provider’s stock, valued at approximately $211,000.

A number of other hedge funds also recently modified their holdings of the business. NewSquare Capital LLC acquired a new position in shares of Mastercard during the 4th quarter worth approximately $26,000. Marshall Investment Management LLC acquired a new position in shares of Mastercard during the 4th quarter worth $30,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Mastercard during the 4th quarter worth $32,000. Truvestments Capital LLC increased its holdings in Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 25 shares in the last quarter. Finally, FPC Investment Advisory Inc. grew its position in shares of Mastercard by 483.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MA shares. JPMorgan Chase & Co. upped their target price on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. KeyCorp increased their price objective on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Barclays increased their price objective on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group lowered their price objective on Mastercard from $660.00 to $640.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $606.25.

Insider Activity

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the transaction, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction on Thursday, May 8th. The shares were 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 of the company’s stock, valued at $2,024,394.75. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,207 shares of company stock worth $12,664,529. 0.10% of the stock is owned by corporate insiders.

Mastercard Price Performance

Shares of NYSE MA opened at $582.97 on Monday. The stock has a fifty day simple moving average of $535.67 and a two-hundred day simple moving average of $535.89. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $584.29. The firm has a market cap of $531.49 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last announced its quarterly earnings results 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 company 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 firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.31 earnings per share. Analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share 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.