NewEdge Wealth LLC Boosts Stock Holdings in Mastercard Incorporated (NYSE:MA)

Key Points

• NewEdge Wealth LLC has increased its stake in Mastercard Incorporated by 0.9%, now holding a total of 101,017 shares valued at approximately $55.37 million.
• Institutional investors collectively own about 97.28% of Mastercard's stock, with several firms also boosting their positions during the first quarter.
• Mastercard's latest quarterly earnings surpassed analyst expectations, reporting an EPS of $4.15 against a consensus of $4.05, alongside a revenue increase of 16.8% year-over-year.

NewEdge Wealth LLC grew its position in Mastercard Incorporated (NYSE:MA - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,017 shares of the credit services provider's stock after acquiring an additional 862 shares during the quarter. Mastercard comprises 1.0% of NewEdge Wealth LLC's holdings, making the stock its 18th largest position. NewEdge Wealth LLC's holdings in Mastercard were worth $55,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MA. Accredited Investors Inc. grew its holdings in Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock worth $394,000 after acquiring an additional 18 shares during the period. Wealthstream Advisors Inc. grew its position in Mastercard by 2.9% during the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock worth $347,000 after buying an additional 18 shares during the period. Phillips Wealth Planners LLC increased its holdings in Mastercard by 1.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock valued at $538,000 after buying an additional 19 shares in the last quarter. Alta Wealth Advisors LLC increased its holdings in Mastercard by 3.6% in the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock valued at $296,000 after buying an additional 19 shares in the last quarter. Finally, May Hill Capital LLC lifted its position in shares of Mastercard by 2.0% during the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock valued at $540,000 after acquiring an additional 19 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Vosburg sold 9,428 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 38,753 shares of company stock valued at $20,351,084 in the last three months. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MA shares. Evercore ISI began coverage on shares of Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 price target for the company. Citigroup increased their price objective on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Morgan Stanley boosted their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $615.33.

Mastercard Price Performance

Shares of Mastercard stock opened at $559.73 on Friday. Mastercard Incorporated has a 52 week low of $439.59 and a 52 week high of $594.71. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 2.41. The stock has a market cap of $510.31 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The company's 50-day moving average price is $564.58 and its two-hundred day moving average price is $551.95.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The company's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's dividend payout ratio is 21.32%.

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.

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