Suncoast Equity Management Increases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Suncoast Equity Management lifted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,017 shares of the credit services provider's stock after buying an additional 796 shares during the quarter. Mastercard makes up approximately 4.0% of Suncoast Equity Management's portfolio, making the stock its 13th biggest holding. Suncoast Equity Management's holdings in Mastercard were worth $35,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MA. Brighton Jones LLC raised its stake in Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Mastercard in the fourth quarter valued at approximately $83,644,000. Bank Pictet & Cie Europe AG raised its stake in Mastercard by 11.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock valued at $37,108,000 after purchasing an additional 7,452 shares in the last quarter. Mattern Capital Management LLC raised its stake in Mastercard by 9.4% in the fourth quarter. Mattern Capital Management LLC now owns 1,271 shares of the credit services provider's stock valued at $669,000 after purchasing an additional 109 shares in the last quarter. Finally, Prakash Investment Advisors LLC purchased a new stake in Mastercard in the fourth quarter valued at approximately $1,948,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE:MA opened at $532.18 on Friday. The stock has a market cap of $485.19 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. The firm's fifty day simple moving average is $559.72 and its 200 day simple moving average is $544.51. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81.

Mastercard (NYSE:MA - Get Free Report) last released 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. The business had revenue of $7.25 billion for the quarter, compared to analysts' expectations of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.31 earnings per share. As a group, research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Wall Street Analysts Forecast Growth

MA has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $633.00 target price on shares of Mastercard in a research note on Wednesday, April 2nd. Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Truist Financial assumed coverage on shares of Mastercard in a research note on Monday, June 2nd. They set a "buy" rating and a $640.00 price target on the stock. UBS Group lifted their price target on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Monness Crespi & Hardt downgraded shares of Mastercard from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $610.00.

Insider Activity at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 84,871 shares of the company's stock, valued at approximately $46,692,629.36. This trade represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sandra A. Arkell sold 150 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the transaction, the insider now directly owns 3,555 shares of the company's stock, valued at $2,024,394.75. This represents a 4.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,513 shares of company stock worth $23,166,463 over the last quarter. Corporate insiders own 0.09% of the company's stock.

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.

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