Beach Investment Counsel Inc. PA Sells 718 Shares of Mastercard Incorporated (NYSE:MA)

Beach Investment Counsel Inc. PA reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,905 shares of the credit services provider’s stock after selling 718 shares during the quarter. Mastercard comprises 2.3% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 14th biggest position. Beach Investment Counsel Inc. PA’s holdings in Mastercard were worth $15,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. Brighton Jones LLC increased its stake in shares of Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after acquiring an additional 2,028 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Mastercard in the 4th quarter valued at about $83,644,000. Consolidated Portfolio Review Corp increased its stake in shares of Mastercard by 6.5% in the 4th quarter. Consolidated Portfolio Review Corp now owns 1,457 shares of the credit services provider’s stock valued at $767,000 after acquiring an additional 89 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Mastercard in the 4th quarter valued at about $30,368,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Mastercard in the 4th quarter valued at about $595,000. 97.28% of the stock is owned by institutional investors.

Mastercard Trading Up 0.8%

NYSE MA opened at $590.03 on Friday. The company has a market cap of $537.94 billion, a PE ratio of 42.48, a PEG ratio of 2.37 and a beta of 1.05. 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 Incorporated has a 12 month low of $428.86 and a 12 month high of $591.16. The stock has a 50 day moving average of $547.49 and a 200-day moving average of $541.93.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The business had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the business earned $3.31 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MA shares. Evercore ISI started coverage on Mastercard in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 price target for the company. Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They issued a “buy” rating and a $640.00 price target for the company. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup boosted their price objective on Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, KeyCorp boosted their price objective on Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $610.00.

Insider Activity at Mastercard

In related news, insider Sandra A. Arkell sold 150 shares of the stock in a transaction 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 sale, the insider now owns 3,555 shares in the company, valued at approximately $2,024,394.75. This represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction 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 completion of the sale, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,258 shares of company stock worth $20,885,067. Company insiders own 0.09% of the company’s stock.

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.