Beach Investment Counsel Inc. PA Has $15.84 Million Position in Mastercard Incorporated (NYSE:MA)

Beach Investment Counsel Inc. PA reduced its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,905 shares of the credit services provider's stock after selling 718 shares during the quarter. Mastercard accounts for 2.3% of Beach Investment Counsel Inc. PA's portfolio, making the stock its 14th largest position. Beach Investment Counsel Inc. PA's holdings in Mastercard were worth $15,843,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 377,302 shares during the period. FMR LLC boosted its stake in Mastercard by 4.3% during the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider's stock valued at $11,725,627,000 after buying an additional 912,856 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mastercard by 1.5% during 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 acquiring an additional 282,739 shares during the period. Norges Bank bought a new stake in shares of Mastercard in the 4th quarter worth approximately $6,022,224,000. Finally, Wellington Management Group LLP grew its holdings in shares of Mastercard by 9.1% in the 4th quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider's stock worth $5,139,713,000 after acquiring an additional 817,836 shares during the last quarter. Institutional investors own 97.28% of the company's stock.

Mastercard Stock Down 1.0%

Shares of MA traded down $5.73 during trading hours on Monday, hitting $584.39. 1,935,931 shares of the company were exchanged, compared to its average volume of 2,602,713. The firm's 50 day moving average is $547.49 and its 200-day moving average is $542.12. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $595.38. 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 market cap of $532.79 billion, a PE ratio of 42.07, a PEG ratio of 2.37 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday. UBS Group raised their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Macquarie cut their target price on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial started coverage on Mastercard in a research report on Monday, June 2nd. They issued a "buy" rating and a $640.00 target price for the company. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Mastercard in a research report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $610.00.

Insider Activity at Mastercard

In related news, insider Craig Vosburg sold 14,051 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the transaction, the insider now directly owns 58,451 shares in the company, valued at $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sandra A. Arkell sold 150 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $580.00, for a total value of $87,000.00. Following the completion of the sale, the insider now owns 3,255 shares of the company's stock, valued at $1,887,900. This represents a 4.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,258 shares of company stock worth $20,885,067. 0.09% of the stock is owned by insiders.

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.