Mastercard (NYSE:MA) Earns Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Mastercard (NYSE:MAFree Report) in a report released on Friday,Benzinga reports. The firm currently has a $575.00 target price on the credit services provider’s stock, up from their prior target price of $565.00.

A number of other research firms have also weighed in on MA. Argus raised Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group upped their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup boosted their price target on shares of Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Oppenheimer initiated coverage on Mastercard in a report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 target price on the stock. Finally, Robert W. Baird raised their price target on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Read Our Latest Research Report on Mastercard

Mastercard Stock Performance

Shares of NYSE MA traded up $1.49 during trading on Friday, hitting $521.89. The company had a trading volume of 2,408,193 shares, compared to its average volume of 2,452,135. The stock has a 50 day simple moving average of $504.09 and a 200 day simple moving average of $471.04. The firm has a market capitalization 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 12 month low of $395.55 and a 12 month high of $534.03.

Mastercard (NYSE:MAGet Free Report) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. As a group, analysts anticipate that Mastercard will post 14.45 earnings per share for the current year.

Mastercard Dividend Announcement

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

Insider Buying and Selling

In other news, major shareholder Foundation Mastercard sold 109,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the transaction, the insider now owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,370 shares of company stock valued at $97,749,218 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

Several large investors have recently modified their holdings of MA. International Assets Investment Management LLC raised its stake in Mastercard by 120,665.3% in the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after buying an additional 8,035,099 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Mastercard by 51.7% in the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after acquiring an additional 1,965,782 shares during the period. Swedbank AB bought a new position in shares of Mastercard in the 1st quarter worth $660,652,000. PineStone Asset Management Inc. lifted its stake in shares of Mastercard by 145.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after purchasing an additional 1,053,616 shares during the last quarter. Finally, FMR LLC boosted its position in Mastercard by 3.4% during the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

About Mastercard

(Get Free Report)

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.

Read More

Analyst Recommendations for Mastercard (NYSE:MA)

Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.