Congress Asset Management Co. Grows Stock Holdings in Mastercard Incorporated (NYSE:MA)

Congress Asset Management Co. raised its position in shares of Mastercard Incorporated (NYSE:MA) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,115 shares of the credit services provider’s stock after purchasing an additional 421 shares during the period. Congress Asset Management Co.’s holdings in Mastercard were worth $17,603,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MA. Vanguard Group Inc. increased its holdings in shares of Mastercard by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock worth $40,640,219,000 after buying an additional 377,302 shares during the period. FMR LLC increased its holdings in shares of Mastercard by 4.3% in the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock worth $11,725,627,000 after buying an additional 912,856 shares during the period. Geode Capital Management LLC increased its holdings in shares of Mastercard by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider’s stock worth $9,800,202,000 after buying an additional 282,739 shares during the period. Norges Bank purchased a new position in shares of Mastercard in the fourth quarter worth about $6,022,224,000. Finally, Wellington Management Group LLP increased its holdings in shares of Mastercard by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock worth $5,139,713,000 after buying an additional 817,836 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA opened at $590.03 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The business’s 50 day moving average price is $547.49 and its 200-day moving average price is $541.93. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $591.16. The stock has a market cap of $537.94 billion, a P/E ratio of 42.48, a P/E/G ratio of 2.37 and a beta of 1.05.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. The firm had revenue of $7.25 billion for 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 period in the previous year, the firm posted $3.31 EPS. Equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MA has been the topic of several analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $633.00 price objective on shares of Mastercard in a report on Wednesday, April 2nd. Truist Financial initiated coverage on Mastercard in a research note on Monday, June 2nd. They issued a “buy” rating and a $640.00 target price on the stock. Monness Crespi & Hardt cut Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. Finally, Evercore ISI initiated coverage on Mastercard in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price on the stock. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $610.00.

Insider Transactions at Mastercard

In other news, CEO Michael Miebach sold 15,775 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the sale, the chief executive officer now directly owns 84,871 shares in the company, valued at $46,692,629.36. This represents a 15.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s 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 sale, the insider now owns 34,524 shares of the company’s stock, valued at $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. Insiders sold 37,258 shares of company stock worth $20,885,067 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Mastercard Company 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.