Beach Investment Counsel Inc. PA Sells 718 Shares of Mastercard Incorporated (NYSE:MA)

Beach Investment Counsel Inc. PA decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 28,905 shares of the credit services provider’s stock after selling 718 shares during the quarter. Mastercard makes up approximately 2.3% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 14th largest position. Beach Investment Counsel Inc. PA’s holdings in Mastercard were worth $15,843,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC acquired a new stake in shares of Mastercard during the 4th quarter worth $26,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth $31,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Mastercard during the 4th quarter worth $32,000. Marshall Investment Management LLC acquired a new stake in shares of Mastercard during the 4th quarter worth $30,000. Finally, 10Elms LLP acquired a new stake in shares of Mastercard during the 4th quarter worth $33,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $590.03 on Friday. The business’s 50-day moving average price is $547.49 and its 200-day moving average price is $541.93. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $591.16. The firm has a market capitalization of $537.94 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. The firm had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the firm posted $3.31 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on MA shares. UBS Group increased their target price on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. KeyCorp increased their target price on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $633.00 target price on shares of Mastercard in a report on Wednesday, April 2nd. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Evercore ISI assumed coverage on Mastercard in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.00.

Insider Buying and Selling

In related news, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the transaction, the insider now directly owns 58,451 shares of the company’s stock, valued at $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the transaction, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,258 shares of company stock valued at $20,885,067 over the last ninety days. 0.09% of the stock is owned by company insiders.

About Mastercard

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.