Elite Wealth Management Inc. Has $7.13 Million Position in Mastercard Incorporated (NYSE:MA)

Elite Wealth Management Inc. lessened its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 3.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,005 shares of the credit services provider's stock after selling 490 shares during the period. Mastercard comprises about 0.9% of Elite Wealth Management Inc.'s portfolio, making the stock its 8th largest holding. Elite Wealth Management Inc.'s holdings in Mastercard were worth $7,128,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MA. Brighton Jones LLC grew its holdings in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after buying an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock valued at $37,108,000 after acquiring an additional 7,452 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Mastercard by 51.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,954 shares of the credit services provider's stock valued at $1,555,000 after acquiring an additional 1,006 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Mastercard in the 4th quarter valued at about $73,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Mastercard by 25.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,549 shares of the credit services provider's stock worth $6,081,000 after purchasing an additional 2,330 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Performance

Shares of Mastercard stock traded up $2.94 during trading on Monday, reaching $553.12. The company's stock had a trading volume of 2,500,788 shares, compared to its average volume of 2,864,759. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $504.28 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The business's fifty day moving average price is $568.42 and its 200-day moving average price is $547.84.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the previous year, the business posted $3.31 EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 9th. Mastercard's payout ratio is currently 21.32%.

Insider Activity at Mastercard

In related news, insider Craig Vosburg sold 9,428 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the transaction, the insider directly owned 58,451 shares in the company, valued at $20,636,125.55. The trade was a 13.89% 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 Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the transaction, the insider directly owned 23,624 shares of the company's stock, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,753 shares of company stock valued at $20,351,084 in the last quarter. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. UBS Group boosted their price target on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Evercore ISI assumed coverage on shares of Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price target on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $633.00 price objective on shares of Mastercard in a report on Wednesday, April 2nd. Finally, KeyCorp boosted their target price on Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $611.50.

About Mastercard

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.