Hartford Funds Management Co LLC Grows Stock Position in Mastercard Incorporated $MA

Hartford Funds Management Co LLC increased its position in shares of Mastercard Incorporated (NYSE:MA) by 63.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,341 shares of the credit services provider’s stock after purchasing an additional 1,689 shares during the quarter. Mastercard comprises about 0.2% of Hartford Funds Management Co LLC’s holdings, making the stock its 23rd largest position. Hartford Funds Management Co LLC’s holdings in Mastercard were worth $2,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MA. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Mastercard by 820.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 46 shares of the credit services provider’s stock valued at $26,000 after buying an additional 41 shares during the period. Tacita Capital Inc raised its position in shares of Mastercard by 50.0% during the 3rd quarter. Tacita Capital Inc now owns 57 shares of the credit services provider’s stock valued at $32,000 after buying an additional 19 shares during the period. Foster Dykema Cabot & Partners LLC raised its position in shares of Mastercard by 250.0% during the 3rd quarter. Foster Dykema Cabot & Partners LLC now owns 56 shares of the credit services provider’s stock valued at $32,000 after buying an additional 40 shares during the period. Bay Harbor Wealth Management LLC raised its position in shares of Mastercard by 54.1% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 57 shares of the credit services provider’s stock valued at $33,000 after buying an additional 20 shares during the period. Finally, Birchbrook Inc. purchased a new stake in shares of Mastercard during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MA. Truist Financial reduced their price target on shares of Mastercard from $590.00 to $561.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. UBS Group cut their target price on Mastercard from $650.00 to $640.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $739.00 target price on shares of Mastercard in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on Mastercard from $685.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $679.00 target price on shares of Mastercard in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $656.00.

Mastercard Stock Up 2.3%

Shares of NYSE MA opened at $505.39 on Tuesday. The firm has a market cap of $446.55 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.54 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56. Mastercard Incorporated has a 52-week low of $480.50 and a 52-week high of $601.77. The business’s 50 day moving average is $502.92 and its two-hundred day moving average is $530.89.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.41 by $0.19. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.26 billion. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.73 earnings per share. Research analysts predict that Mastercard Incorporated will post 19.6 EPS for the current year.

Mastercard Company Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.