Several other analysts have also recently issued reports on MA. Royal Bank of Canada upped their target price on Mastercard from $223.00 to $232.00 and gave the company an outperform rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Goldman Sachs Group upgraded Mastercard from a buy rating to a conviction-buy rating in a report on Monday, September 17th. BMO Capital Markets started coverage on Mastercard in a report on Wednesday, September 26th. They set an outperform rating and a $238.00 price target for the company. Wells Fargo & Co increased their price target on Mastercard from $230.00 to $250.00 and gave the stock an outperform rating in a report on Monday, October 1st. Finally, Loop Capital set a $232.00 price target on Mastercard and gave the stock a buy rating in a report on Wednesday, October 31st. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Mastercard presently has a consensus rating of Buy and a consensus price target of $220.20.
Shares of MA traded down $0.71 during trading hours on Monday, hitting $195.06. 48,103 shares of the stock were exchanged, compared to its average volume of 4,763,025. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.55 and a current ratio of 1.55. Mastercard has a 12-month low of $156.80 and a 12-month high of $225.35. The stock has a market capitalization of $195.98 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 1.39 and a beta of 1.13.
Mastercard declared that its board has initiated a stock buyback program on Tuesday, December 4th that permits the company to buyback $6.50 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Wednesday, January 9th will be paid a dividend of $0.33 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, January 8th. This represents a $1.32 annualized dividend and a yield of 0.68%. Mastercard’s dividend payout ratio is presently 21.83%.
In other news, Director Richard K. Davis bought 2,475 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average price of $196.37 per share, with a total value of $486,015.75. Following the purchase, the director now owns 3,468 shares in the company, valued at $681,011.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $192.00, for a total value of $960,000.00. Following the transaction, the director now directly owns 40,183 shares in the company, valued at approximately $7,715,136. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MA. Capital World Investors raised its position in Mastercard by 18.4% in the 3rd quarter. Capital World Investors now owns 19,136,297 shares of the credit services provider’s stock valued at $4,259,931,000 after purchasing an additional 2,976,127 shares in the last quarter. FMR LLC raised its position in Mastercard by 6.0% in the 2nd quarter. FMR LLC now owns 39,120,141 shares of the credit services provider’s stock valued at $7,687,891,000 after purchasing an additional 2,229,947 shares in the last quarter. Capital Research Global Investors raised its position in Mastercard by 10.5% in the 3rd quarter. Capital Research Global Investors now owns 19,448,504 shares of the credit services provider’s stock valued at $4,329,431,000 after purchasing an additional 1,846,753 shares in the last quarter. Rehmann Capital Advisory Group raised its position in Mastercard by 22,078.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,820,194 shares of the credit services provider’s stock valued at $8,176,000 after purchasing an additional 1,811,987 shares in the last quarter. Finally, Morgan Stanley raised its position in Mastercard by 8.1% in the 3rd quarter. Morgan Stanley now owns 14,071,425 shares of the credit services provider’s stock valued at $3,132,440,000 after purchasing an additional 1,058,341 shares in the last quarter. 74.53% of the stock is currently owned by institutional investors.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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