Mastercard (NYSE:MA) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI started coverage on shares of Mastercard (NYSE:MA) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage issued an in-line rating and a $550.00 price target on the credit services provider’s stock.

A number of other research firms also recently weighed in on MA. JPMorgan Chase & Co. raised their price target on shares of Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $635.00 target price (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Barclays upped their price target on shares of Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Susquehanna raised their price objective on Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $640.00 target price (up previously from $614.00) on shares of Mastercard in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and an average target price of $607.96.

Mastercard Price Performance

NYSE:MA traded down $12.59 during mid-day trading on Wednesday, reaching $502.84. The stock had a trading volume of 1,939,436 shares, compared to its average volume of 2,911,176. The stock has a 50-day simple moving average of $545.10 and a two-hundred day simple moving average of $528.04. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. Mastercard has a 12 month low of $428.86 and a 12 month high of $582.23. The stock has a market capitalization of $458.44 billion, a PE ratio of 36.20, a P/E/G ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, equities analysts anticipate that Mastercard will post 15.91 earnings per share for the current year.

Mastercard declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.60%. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Insider Buying and Selling

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value 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. The trade was a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new position in shares of Mastercard in the fourth quarter valued at approximately $26,000. Marshall Investment Management LLC bought a new position in Mastercard in the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Mastercard during the 4th quarter valued at $31,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Mastercard in the 4th quarter worth about $32,000. Finally, Navigoe LLC bought a new position in Mastercard during the fourth quarter valued at about $33,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

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.