TD Cowen Increases Mastercard (NYSE:MA) Price Target to $567.00

Mastercard (NYSE:MA) had its price target increased by TD Cowen from $533.00 to $567.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the credit services provider’s stock.

A number of other equities analysts have also commented on the company. Bank of America increased their price target on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Citigroup lifted their target price on Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a report on Monday, November 4th. William Blair upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Barclays lifted their target price on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Mastercard Price Performance

Shares of Mastercard stock opened at $521.63 on Friday. The stock has a 50 day moving average of $504.78 and a 200 day moving average of $471.95. Mastercard has a 12 month low of $398.26 and a 12 month high of $534.03. The firm has a market cap of $478.77 billion, a PE ratio of 39.46, a PEG ratio of 2.28 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the company earned $3.39 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard Dividend Announcement

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

Insider Transactions at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s 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 transaction, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 23.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction 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 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. In the last three months, insiders sold 99,370 shares of company stock valued at $46,797,168. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Mastercard by 0.7% during the 3rd quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after purchasing an additional 257,312 shares during the last quarter. FMR LLC grew its stake in Mastercard by 3.4% during the 3rd 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 during the last quarter. Geode Capital Management LLC grew its stake in Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after purchasing an additional 453,773 shares during the last quarter. Capital Research Global Investors grew its stake in Mastercard by 0.3% during the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after purchasing an additional 43,881 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after purchasing an additional 8,035,099 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

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.