KeyCorp Forecasts Strong Price Appreciation for Mastercard (NYSE:MA) Stock

Mastercard (NYSE:MA) had its target price boosted by KeyCorp from $515.00 to $580.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $565.00 price target (up from $536.00) on shares of Mastercard in a research note on Friday. Citigroup increased their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. 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. William Blair raised shares of Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their target price on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Four equities research 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’s stock. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $540.17.

Mastercard Price Performance

MA opened at $505.58 on Friday. The firm has a market capitalization of $467.08 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.23 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50-day moving average is $496.51 and its two-hundred day moving average is $467.30. Mastercard has a 1 year low of $384.20 and a 1 year high of $527.90.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS 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 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 was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.39 EPS. Research analysts anticipate that Mastercard will post 14.4 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 19.97%.

Insider Transactions at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Foundation Mastercard sold 109,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,370 shares of company stock worth $153,495,958 in the last ninety days. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

A number of hedge funds have recently modified their holdings of MA. Everhart Financial Group Inc. grew its stake in shares of Mastercard by 17.8% in the third quarter. Everhart Financial Group Inc. now owns 4,377 shares of the credit services provider’s stock valued at $2,161,000 after buying an additional 660 shares in the last quarter. Coalescence Partners Investment Management LP purchased a new position in Mastercard during the 3rd quarter valued at about $13,616,000. Lynx Investment Advisory grew its position in Mastercard by 3.2% in the 3rd quarter. Lynx Investment Advisory now owns 5,970 shares of the credit services provider’s stock valued at $2,948,000 after acquiring an additional 183 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Mastercard by 2.2% during the third quarter. Venturi Wealth Management LLC now owns 5,463 shares of the credit services provider’s stock worth $2,698,000 after purchasing an additional 120 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of Mastercard by 35.5% during the third quarter. Jaffetilchin Investment Partners LLC now owns 10,433 shares of the credit services provider’s stock worth $5,152,000 after purchasing an additional 2,731 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.