Stonegate Investment Group LLC Purchases 3,862 Shares of Mastercard Incorporated (NYSE:MA)

Stonegate Investment Group LLC grew its position in Mastercard Incorporated (NYSE:MA - Free Report) by 24.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,887 shares of the credit services provider's stock after acquiring an additional 3,862 shares during the period. Stonegate Investment Group LLC's holdings in Mastercard were worth $10,900,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Mastercard in the fourth quarter valued at $6,022,224,000. GAMMA Investing LLC increased its holdings in Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after purchasing an additional 8,213,123 shares during the period. Raymond James Financial Inc. acquired a new stake in Mastercard in the fourth quarter valued at $837,017,000. Proficio Capital Partners LLC increased its holdings in Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the period. Finally, Northern Trust Corp increased its holdings in Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Insider Activity at Mastercard

In other Mastercard news, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $580.00, for a total transaction of $87,000.00. Following the transaction, the insider now owns 3,255 shares of the company's stock, valued at $1,887,900. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,513 shares of company stock valued at $23,166,463. 0.09% of the stock is owned by corporate insiders.

Mastercard Price Performance

MA stock opened at $532.18 on Friday. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71. The stock has a market capitalization of $485.19 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50-day moving average is $559.72 and its 200-day moving average is $544.51.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results 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 net margin of 45.21% and a return on equity of 196.87%. The business had revenue of $7.25 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter last year, the firm earned $3.31 EPS. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MA. Tigress Financial restated a "strong-buy" rating on shares of Mastercard in a report on Monday, March 10th. Truist Financial began coverage on Mastercard in a report on Monday, June 2nd. They issued a "buy" rating and a $640.00 price objective for the company. KeyCorp increased their price objective on Mastercard from $630.00 to $635.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Evercore ISI started coverage on Mastercard in a report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price objective for the company. Finally, Macquarie decreased their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Mastercard has an average rating of "Moderate Buy" and an average price target of $610.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.