Mastercard (NYSE:MA) Price Target Raised to $580.00 at Deutsche Bank Aktiengesellschaft

Mastercard (NYSE:MA) had its price target lifted by Deutsche Bank Aktiengesellschaft from $510.00 to $580.00 in a report released on Friday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the credit services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Susquehanna raised their target price on shares of Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a report on Friday. Argus upgraded Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $565.00 target price (up from $536.00) on shares of Mastercard in a research report on Friday. Oppenheimer assumed coverage on Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price objective on the stock. Finally, Barclays upped their target price on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus target price of $540.17.

Mastercard Price Performance

NYSE MA opened at $505.58 on Friday. Mastercard has a 12-month low of $384.20 and a 12-month high of $527.90. The firm’s fifty day simple moving average is $496.51 and its two-hundred day simple moving average is $467.30. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $467.08 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.21 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.39 EPS. Analysts forecast that Mastercard will post 14.35 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced 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 yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s payout ratio is currently 19.97%.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated 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 owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the 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 sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the sale, the insider now owns 91,924,308 shares in the company, valued at $42,970,017,774.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,370 shares of company stock worth $153,495,958. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

Several hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in shares of Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Swedbank AB acquired a new stake in shares of Mastercard in the first quarter valued at approximately $660,652,000. PineStone Asset Management Inc. grew its position in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Mastercard in the 2nd quarter valued at $259,071,000. Finally, Capital World Investors raised its position in Mastercard by 13.3% in the 1st quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after purchasing an additional 387,317 shares during the last quarter. Institutional investors and hedge funds 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.