Mastercard (NYSE:MA) Price Target Lowered to $580.00 at JPMorgan Chase & Co.

Mastercard (NYSE:MA) had its price objective trimmed by JPMorgan Chase & Co. from $593.00 to $580.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

A number of other research analysts have also issued reports on the stock. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. TD Cowen boosted their target price on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup lifted their price target on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna increased their price objective on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $520.00 target price on shares of Mastercard in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average target price of $537.92.

Mastercard Stock Performance

Shares of NYSE MA traded up $8.49 during midday trading on Friday, reaching $508.08. 3,753,713 shares of the company were exchanged, compared to its average volume of 2,450,197. The stock has a fifty day simple moving average of $495.77 and a 200 day simple moving average of $466.84. Mastercard has a 1 year low of $378.48 and a 1 year high of $527.90. The stock has a market cap of $469.38 billion, a P/E ratio of 38.86, a PEG ratio of 2.27 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $3.39 earnings per share. On average, research analysts forecast that Mastercard will post 14.33 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s payout ratio is 20.18%.

Insider Buying and Selling at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 340,809 shares of company stock worth $159,610,703. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

Several institutional investors and hedge funds have recently modified their holdings of MA. Highline Wealth Partners LLC acquired a new position in Mastercard in the 3rd quarter worth $25,000. Palisade Asset Management LLC acquired a new position in shares of Mastercard in the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Mastercard in the second quarter valued at about $34,000. Fairway Wealth LLC purchased a new stake in Mastercard during the 2nd quarter worth approximately $35,000. Finally, First Personal Financial Services acquired a new position in shares of Mastercard in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

About Mastercard

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.