Sagespring Wealth Partners LLC Acquires 1,193 Shares of Mastercard Incorporated (NYSE:MA)

Sagespring Wealth Partners LLC grew its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 16.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,628 shares of the credit services provider's stock after buying an additional 1,193 shares during the period. Sagespring Wealth Partners LLC's holdings in Mastercard were worth $4,729,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Precedent Wealth Partners LLC acquired a new position in shares of Mastercard during the first quarter worth approximately $288,000. Great Lakes Retirement Inc. raised its position in shares of Mastercard by 2.4% during the first quarter. Great Lakes Retirement Inc. now owns 5,756 shares of the credit services provider's stock worth $3,155,000 after purchasing an additional 137 shares during the period. Montecito Bank & Trust raised its position in shares of Mastercard by 4.4% during the first quarter. Montecito Bank & Trust now owns 4,973 shares of the credit services provider's stock worth $2,726,000 after purchasing an additional 209 shares during the period. Northstar Group Inc. raised its position in shares of Mastercard by 10.5% during the first quarter. Northstar Group Inc. now owns 902 shares of the credit services provider's stock worth $494,000 after purchasing an additional 86 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Mastercard by 0.7% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 4,314 shares of the credit services provider's stock worth $2,365,000 after purchasing an additional 31 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Craig Vosburg sold 9,428 shares of Mastercard stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $588.18, for a total transaction of $5,545,361.04. Following the completion of the transaction, the insider now owns 58,451 shares of the company's stock, valued at $34,379,709.18. The trade was a 13.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the transaction, the insider now directly owns 34,524 shares of the company's stock, valued at $18,459,292.32. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,686 shares of company stock valued at $26,430,428 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Trading Down 4.7%

Shares of Mastercard stock opened at $561.50 on Monday. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $594.71. The stock's 50-day simple moving average is $555.17 and its 200 day simple moving average is $544.04. The stock has a market capitalization of $511.92 billion, a P/E ratio of 40.42, a P/E/G 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 (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.16. The business 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 firm's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.31 EPS. As a group, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Monness Crespi & Hardt lowered Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Macquarie dropped their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Tigress Financial restated a "strong-buy" rating on shares of Mastercard in a research note on Monday, March 10th. The Goldman Sachs Group restated a "buy" rating and set a $633.00 price objective on shares of Mastercard in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group restated a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. 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 stock. According to data from MarketBeat, Mastercard has an average rating of "Moderate Buy" and a consensus target price of $610.00.

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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