Mastercard (NYSE:MA) Price Target Raised to $576.00

Mastercard (NYSE:MA) had its price objective increased by Barclays from $536.00 to $576.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Several other analysts also recently commented on the stock. Bank of America upped their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a neutral rating in a report on Tuesday, September 17th. BNP Paribas cut Mastercard from an outperform rating to a neutral rating and set a $470.00 price objective for the company. in a report on Tuesday, September 3rd. BMO Capital Markets reissued an outperform rating and issued a $520.00 price target on shares of Mastercard in a report on Wednesday, August 14th. TD Cowen raised their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Citigroup upped their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Mastercard has an average rating of Moderate Buy and an average price target of $518.96.

Mastercard Trading Up 0.9 %

NYSE MA opened at $502.26 on Thursday. Mastercard has a 12-month low of $359.77 and a 12-month high of $502.92. The company has a fifty day simple moving average of $480.78 and a two-hundred day simple moving average of $462.99. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The stock has a market cap of $464.01 billion, a P/E ratio of 38.40, a P/E/G ratio of 2.22 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.85 billion. On average, analysts forecast that Mastercard will post 14.3 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. Mastercard’s dividend payout ratio is currently 20.18%.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of Mastercard stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now owns 92,033,308 shares in the company, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,809 shares of company stock worth $159,610,703. Insiders own 0.10% of the company’s stock.

Institutional Trading of Mastercard

A number of institutional investors and hedge funds have recently bought and sold shares of MA. Biltmore Family Office LLC raised its stake in Mastercard by 3.4% in the fourth quarter. Biltmore Family Office LLC now owns 2,607 shares of the credit services provider’s stock valued at $1,112,000 after buying an additional 85 shares in the last quarter. Barden Capital Management Inc. lifted its position in shares of Mastercard by 14.8% during the 4th quarter. Barden Capital Management Inc. now owns 4,994 shares of the credit services provider’s stock worth $1,994,000 after buying an additional 645 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Mastercard by 49.1% in the 4th quarter. Baird Financial Group Inc. now owns 504,493 shares of the credit services provider’s stock valued at $215,171,000 after buying an additional 166,049 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Mastercard by 8.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 54,798 shares of the credit services provider’s stock valued at $23,372,000 after buying an additional 4,234 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its stake in Mastercard by 0.7% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 135,592 shares of the credit services provider’s stock worth $57,831,000 after acquiring an additional 930 shares in 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.