Mastercard (NYSE:MA) Price Target Increased to $593.00 by Analysts at JPMorgan Chase & Co.

Mastercard (NYSE:MA) had its target price boosted by JPMorgan Chase & Co. from $570.00 to $593.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

MA has been the topic of several other reports. Argus upgraded Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. BNP Paribas cut shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a research report on Tuesday, September 3rd. Bank of America lifted their price target on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. William Blair upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Evercore ISI cut their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $525.68.

Mastercard Trading Down 0.6 %

MA opened at $510.48 on Monday. The company has a market cap of $474.55 billion, a P/E ratio of 40.58, a PEG ratio of 2.22 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $490.23 and its 200-day moving average is $464.93. Mastercard has a 1-year low of $359.77 and a 1-year high of $518.82.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Equities research analysts predict that Mastercard will post 14.3 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s payout ratio is currently 20.99%.

Insider Buying and Selling at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 $42,965,195,590.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 13th. The stock was 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 owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,809 shares of company stock valued at $159,610,703. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

A number of hedge funds have recently bought and sold shares of MA. First Trust Direct Indexing L.P. grew its position in Mastercard by 14.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,552 shares of the credit services provider’s stock worth $9,897,000 after purchasing an additional 2,556 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Mastercard in the first quarter valued at approximately $608,000. SteelPeak Wealth LLC increased 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 valued at $2,174,000 after acquiring an additional 1,612 shares during the last quarter. Sarasin & Partners LLP lifted its holdings in Mastercard by 2.2% during the first quarter. Sarasin & Partners LLP now owns 734,881 shares of the credit services provider’s stock worth $353,897,000 after acquiring an additional 15,756 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Mastercard in the first quarter worth $2,938,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

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.