Mastercard (NYSE:MA) Price Target Raised to $610.00

Mastercard (NYSE:MA) had its price target increased by UBS Group from $590.00 to $610.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

MA has been the subject of several other reports. BMO Capital Markets raised their target price on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised their price objective on Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their target price on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $549.16.

Mastercard Price Performance

MA stock opened at $521.89 on Thursday. The stock has a 50-day simple moving average of $504.09 and a 200-day simple moving average of $471.18. The firm has a market cap of $479.01 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard has a 1 year low of $395.55 and a 1 year high of $534.03.

Mastercard (NYSE:MA) last posted its quarterly earnings data 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 company 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%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 earnings per share. On average, equities analysts predict that Mastercard will post 14.47 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is currently 19.97%.

Insider Transactions at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction 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 completion of the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This trade represents a 23.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,370 shares of company stock valued at $97,749,218. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mastercard

Several hedge funds have recently made changes to their positions in MA. Sarasin & Partners LLP boosted its holdings in Mastercard by 4.7% during the third quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after buying an additional 37,486 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after acquiring an additional 138,842 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of Mastercard in the 1st quarter worth $608,000. SteelPeak Wealth LLC raised its position in shares of Mastercard by 48.6% during the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares during the period. Finally, OMC Financial Services LTD purchased a new stake in shares of Mastercard during the first quarter valued at $17,854,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

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.