Perigon Wealth Management LLC Raises Position in Mastercard Incorporated (NYSE:MA)

by · The Cerbat Gem

Perigon Wealth Management LLC grew its position in Mastercard Incorporated (NYSE:MA – Free Report) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,796 shares of the credit services provider’s stock after buying an additional 88 shares during the period. Perigon Wealth Management LLC’s holdings in Mastercard were worth $22,909,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Mastercard by 42.3% in the fourth 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 last quarter. Bank Pictet & Cie Europe AG raised its stake in Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider’s stock valued at $37,108,000 after buying an additional 7,452 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in Mastercard by 10.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 2,669 shares of the credit services provider’s stock valued at $1,406,000 after buying an additional 249 shares during the last quarter. Exchange Capital Management Inc. raised its stake in Mastercard by 4.7% during the 4th quarter. Exchange Capital Management Inc. now owns 470 shares of the credit services provider’s stock valued at $247,000 after buying an additional 21 shares during the last quarter. Finally, FFT Wealth Management LLC raised its stake in Mastercard by 3.1% during the 4th quarter. FFT Wealth Management LLC now owns 2,733 shares of the credit services provider’s stock valued at $1,439,000 after buying an additional 81 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MA shares. The Goldman Sachs Group reiterated a “buy” rating and set a $633.00 target price on shares of Mastercard in a research note on Wednesday, April 2nd. Truist Financial initiated coverage on shares of Mastercard in a research note on Monday, June 2nd. They set a “buy” rating and a $640.00 target price for the company. Monness Crespi & Hardt cut shares of Mastercard from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. UBS Group upped their target price on shares of Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Finally, Evercore ISI initiated coverage on shares of Mastercard in a report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $610.00.

Check Out Our Latest Stock Analysis on MA

Mastercard Stock Performance

MA opened at $550.02 on Thursday. The firm has a market cap of $501.46 billion, a P/E ratio of 38.57, a PEG ratio of 2.43 and a beta of 1.05. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The company has a 50 day simple moving average of $561.86 and a two-hundred day simple moving average of $545.04. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11.

Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business posted $3.31 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. Equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is 21.32%.

Insider Buying and Selling

In related news, insider Craig Vosburg sold 9,428 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider now owns 58,451 shares in the company, valued at approximately $20,636,125.55. This represents a 13.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $572.86, for a total transaction of $549,372.74. Following the transaction, the insider now owns 25,540 shares of the company’s stock, valued at approximately $14,630,844.40. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,115 shares of company stock worth $18,324,718. 0.09% of the stock is owned by insiders.

About Mastercard

(Free Report)

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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