Prentice Wealth Management LLC Has $1.44 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Prentice Wealth Management LLC reduced its stake in Mastercard Incorporated (NYSE:MA) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,635 shares of the credit services provider’s stock after selling 188 shares during the quarter. Prentice Wealth Management LLC’s holdings in Mastercard were worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Foster Victor Wealth Advisors LLC increased its stake in shares of Mastercard by 0.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 48,645 shares of the credit services provider’s stock worth $24,797,000 after purchasing an additional 203 shares during the period. Aries Wealth Management grew its holdings in Mastercard by 61.1% in the 1st quarter. Aries Wealth Management now owns 1,927 shares of the credit services provider’s stock valued at $1,056,000 after buying an additional 731 shares in the last quarter. Ritholtz Wealth Management increased its position in Mastercard by 7.7% during the 1st quarter. Ritholtz Wealth Management now owns 19,387 shares of the credit services provider’s stock worth $10,626,000 after buying an additional 1,383 shares during the period. Affinity Capital Advisors LLC lifted its holdings in shares of Mastercard by 1.6% during the first quarter. Affinity Capital Advisors LLC now owns 2,918 shares of the credit services provider’s stock worth $1,488,000 after buying an additional 47 shares in the last quarter. Finally, Grant Private Wealth Management Inc boosted its position in shares of Mastercard by 19.0% in the first quarter. Grant Private Wealth Management Inc now owns 764 shares of the credit services provider’s stock valued at $419,000 after acquiring an additional 122 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MA has been the subject of a number of recent research reports. Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Citigroup lifted their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research report on Monday, May 5th. UBS Group increased their price target on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Truist Financial initiated coverage on Mastercard in a report on Monday, June 2nd. They issued a “buy” rating and a $640.00 price objective for the company. Finally, Evercore ISI initiated coverage on Mastercard in a report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 target price on the stock. Seven investment 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 stock. According to MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average price target of $610.00.

Mastercard Stock Down 4.7%

Shares of NYSE:MA opened at $561.50 on Friday. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $594.71. The company has a market capitalization of $511.92 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $555.17 and a 200-day moving average of $543.96.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. The business 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 business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.31 EPS. On average, equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Insider Transactions at Mastercard

In other Mastercard news, insider Sandra A. Arkell sold 150 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $569.45, for a total transaction 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. The trade was a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,813,337.76. Following the completion of the transaction, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,686 shares of company stock worth $26,430,428. 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.