Mastercard (NYSE:MA) Price Target Raised to $422.00

Mastercard (NYSE:MAGet Rating) had its target price lifted by BMO Capital Markets from $402.00 to $422.00 in a research note released on Monday morning, The Fly reports.

Several other equities analysts have also recently issued reports on MA. Truist Financial upped their price objective on Mastercard from $420.00 to $440.00 and gave the company a maintains rating in a research report on Friday, July 29th. JPMorgan Chase & Co. lowered their price objective on Mastercard from $430.00 to $425.00 in a research report on Wednesday, July 20th. Macquarie lowered their price objective on Mastercard from $440.00 to $410.00 in a research report on Friday, July 29th. Susquehanna Bancshares lowered their price objective on Mastercard from $430.00 to $400.00 and set a positive rating on the stock in a research report on Friday, July 29th. Finally, The Goldman Sachs Group initiated coverage on Mastercard in a research report on Tuesday, May 17th. They issued a buy rating and a $460.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Mastercard presently has a consensus rating of Moderate Buy and a consensus price target of $414.78.

Mastercard Stock Performance

Shares of MA opened at $354.13 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average price is $335.56 and its 200-day moving average price is $347.94. Mastercard has a 52 week low of $303.65 and a 52 week high of $399.92. The stock has a market cap of $344.44 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.66 and a beta of 1.04.

Mastercard (NYSE:MAGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The credit services provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Mastercard had a return on equity of 143.35% and a net margin of 46.49%. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities research analysts anticipate that Mastercard will post 10.64 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Friday, July 8th will be paid a $0.49 dividend. The ex-dividend date is Thursday, July 7th. This represents a $1.96 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio (DPR) is 19.86%.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 106,330 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $333.03, for a total value of $35,411,079.90. Following the completion of the sale, the insider now directly owns 103,629,316 shares in the company, valued at approximately $34,511,671,107.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 318,982 shares of company stock worth $105,338,500 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Mastercard

A number of institutional investors have recently bought and sold shares of the business. Whittier Trust Co. boosted its holdings in shares of Mastercard by 0.9% during the 1st quarter. Whittier Trust Co. now owns 32,108 shares of the credit services provider’s stock valued at $11,475,000 after purchasing an additional 286 shares during the last quarter. Allen Investment Management LLC boosted its holdings in shares of Mastercard by 186.1% during the 1st quarter. Allen Investment Management LLC now owns 295,561 shares of the credit services provider’s stock valued at $105,628,000 after purchasing an additional 192,250 shares during the last quarter. MCIA Inc boosted its holdings in shares of Mastercard by 18.6% during the 1st quarter. MCIA Inc now owns 8,379 shares of the credit services provider’s stock valued at $2,911,000 after purchasing an additional 1,313 shares during the last quarter. Graypoint LLC boosted its holdings in shares of Mastercard by 5.2% during the 1st quarter. Graypoint LLC now owns 16,436 shares of the credit services provider’s stock valued at $5,874,000 after purchasing an additional 808 shares during the last quarter. Finally, Chatham Capital Group Inc. boosted its holdings in shares of Mastercard by 11.6% during the 1st quarter. Chatham Capital Group Inc. now owns 1,348 shares of the credit services provider’s stock valued at $482,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.

About Mastercard

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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 other payment-related products and services.

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