Precedent Wealth Partners LLC Makes New Investment in Mastercard Incorporated (NYSE:MA)

Precedent Wealth Partners LLC acquired a new stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 526 shares of the credit services provider's stock, valued at approximately $288,000.

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Mastercard in the fourth quarter valued at about $83,644,000. Bank Pictet & Cie Europe AG boosted its position in shares of Mastercard by 11.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after buying an additional 7,452 shares during the period. Quadrant Private Wealth Management LLC grew its holdings in shares of Mastercard by 15.6% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 630 shares of the credit services provider's stock worth $332,000 after buying an additional 85 shares in the last quarter. Finally, American Financial Advisors LLC acquired a new stake in Mastercard in the 4th quarter valued at approximately $208,000. Institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MA shares. The Goldman Sachs Group reaffirmed a "buy" rating and set a $633.00 price target on shares of Mastercard in a research report on Wednesday, April 2nd. UBS Group boosted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Citigroup raised their target price 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. Truist Financial started coverage on shares of Mastercard in a research report on Monday, June 2nd. They set a "buy" rating and a $640.00 price target on the stock. Finally, Monness Crespi & Hardt cut Mastercard from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Seven 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's stock. According to data from MarketBeat, Mastercard currently has a consensus rating of "Moderate Buy" and a consensus price target of $610.00.

Mastercard Price Performance

Shares of NYSE MA traded up $6.49 during trading hours on Monday, hitting $568.52. 3,107,510 shares of the stock were exchanged, compared to its average volume of 2,618,017. The company's fifty day simple moving average is $555.17 and its two-hundred day simple moving average is $544.04. The company has a market cap of $518.32 billion, a PE ratio of 40.93, 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. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71.

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

Insider Transactions at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 959 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $572.86, for a total transaction of $549,372.74. Following the completion of the sale, the insider now directly owns 25,540 shares in the company, valued at approximately $14,630,844.40. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sandra A. Arkell sold 150 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the completion of the transaction, the insider now directly owns 3,555 shares in the company, valued at $2,024,394.75. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,645 shares of company stock worth $26,979,801. 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.