Truist Financial Raises Mastercard (NYSE:MA) Price Target to $450.00

Mastercard (NYSE:MAGet Rating) had its price objective hoisted by Truist Financial from $400.00 to $450.00 in a report published on Friday, The Fly reports. They currently have a buy rating on the credit services provider’s stock.

MA has been the subject of a number of other reports. Credit Suisse Group increased their price target on Mastercard from $370.00 to $390.00 and gave the company an outperform rating in a research note on Friday, October 28th. Barclays decreased their price objective on Mastercard from $430.00 to $428.00 and set an overweight rating on the stock in a research report on Monday, October 31st. Mizuho decreased their price objective on Mastercard from $385.00 to $380.00 and set a buy rating on the stock in a research report on Tuesday, November 1st. Keefe, Bruyette & Woods decreased their price objective on Mastercard from $445.00 to $388.00 in a research report on Monday, October 10th. Finally, Citigroup decreased their price objective on Mastercard from $415.00 to $400.00 in a research report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $405.23.

Mastercard Stock Performance

NYSE MA opened at $376.28 on Friday. The firm has a market cap of $361.78 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.11. The business has a 50-day moving average price of $353.48 and a 200-day moving average price of $334.63. Mastercard has a twelve month low of $276.87 and a twelve month high of $399.92.

Mastercard (NYSE:MAGet Rating) last released its quarterly earnings data on Thursday, October 27th. The credit services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.11. Mastercard had a return on equity of 148.94% and a net margin of 45.22%. The firm had revenue of $5.76 billion during the quarter, compared to analyst estimates of $5.66 billion. As a group, equities research analysts predict that Mastercard will post 10.56 EPS for the current fiscal year.

Mastercard Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 9th. Shareholders of record on Monday, January 9th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.61%. The ex-dividend date is Friday, January 6th. This is a boost from Mastercard’s previous quarterly dividend of $0.49. Mastercard’s dividend payout ratio (DPR) is 22.78%.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 7,064 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $320.00, for a total transaction of $2,260,480.00. Following the sale, the insider now owns 11,207 shares of the company’s stock, valued at approximately $3,586,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Foundation Mastercard sold 177,211 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $319.89, for a total value of $56,688,026.79. Following the completion of the sale, the insider now owns 102,566,047 shares of the company’s stock, valued at approximately $32,809,852,774.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 7,064 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $320.00, for a total value of $2,260,480.00. Following the completion of the sale, the insider now directly owns 11,207 shares of the company’s stock, valued at approximately $3,586,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,819 shares of company stock valued at $117,733,271. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mastercard

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Mastercard by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 77,259,535 shares of the credit services provider’s stock valued at $21,967,977,000 after buying an additional 568,155 shares during the last quarter. State Street Corp raised its stake in shares of Mastercard by 0.4% during the 3rd quarter. State Street Corp now owns 33,865,057 shares of the credit services provider’s stock valued at $9,629,190,000 after buying an additional 138,753 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Mastercard by 13.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 26,909,008 shares of the credit services provider’s stock valued at $8,489,253,000 after acquiring an additional 3,102,135 shares during the period. Jennison Associates LLC grew its position in shares of Mastercard by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 7,874,093 shares of the credit services provider’s stock valued at $2,238,920,000 after acquiring an additional 121,731 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Mastercard by 2.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,870,234 shares of the credit services provider’s stock valued at $2,167,420,000 after acquiring an additional 137,324 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.

About Mastercard

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Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

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