Mastercard (NYSE:MA) Price Target Raised to $567.00

Mastercard (NYSE:MA) had its price objective lifted by TD Cowen from $533.00 to $567.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the credit services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer started coverage on shares of Mastercard in a report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price for the company. Bank of America lifted their target price on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. William Blair raised Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Susquehanna increased their target price on shares of Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, BNP Paribas downgraded Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price for the company. in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $549.16.

Mastercard Stock Up 0.3 %

Shares of MA opened at $521.89 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard has a 52 week low of $395.55 and a 52 week high of $534.03. The firm has a market capitalization of $479.01 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.28 and a beta of 1.10. The business’s fifty day moving average price is $504.09 and its two-hundred day moving average price is $471.38.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.39 EPS. On average, analysts predict that Mastercard will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s dividend payout ratio is presently 19.97%.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the transaction, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. This trade represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,370 shares of company stock worth $46,797,168. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MA. Highline Wealth Partners LLC purchased a new stake in Mastercard in the third quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the 2nd quarter valued at $34,000. First Personal Financial Services purchased a new stake in shares of Mastercard during the 3rd quarter valued at $39,000. Fairway Wealth LLC purchased a new position in Mastercard in the second quarter worth $35,000. Finally, Lowe Wealth Advisors LLC increased its stake in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the last quarter. 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.