JPMorgan Chase & Co. Raises Mastercard (NYSE:MA) Price Target to $593.00

Mastercard (NYSE:MA) had its target price hoisted by JPMorgan Chase & Co. from $570.00 to $593.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

A number of other equities analysts have also weighed in on MA. Citigroup upped their target price on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Compass Point started coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective on the stock. Bank of America lifted their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. William Blair upgraded shares of Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler lifted their price target on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.68.

Mastercard Stock Up 0.1 %

Shares of NYSE MA opened at $513.73 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm has a market cap of $477.57 billion, a PE ratio of 40.84, a P/E/G ratio of 2.22 and a beta of 1.10. The company’s fifty day simple moving average is $490.23 and its 200 day simple moving average is $464.93. Mastercard has a 12-month low of $359.77 and a 12-month high of $518.82.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.85 billion. As a group, sell-side analysts forecast that Mastercard will post 14.3 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given 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 is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Buying and Selling

In other Mastercard 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 transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of 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 at the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mastercard

A number of hedge funds and other institutional investors have recently bought and sold shares of MA. McLean Asset Management Corp raised its stake in shares of Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after purchasing an additional 21 shares during the period. Hoxton Planning & Management LLC grew its holdings in Mastercard by 1.4% during the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock valued at $788,000 after buying an additional 22 shares in the last quarter. Quilter Plc increased its position in shares of Mastercard by 2.8% during the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after buying an additional 22 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Mastercard by 0.5% in the third quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider’s stock worth $2,148,000 after buying an additional 22 shares in the last quarter. Finally, Lafayette Investments Inc. boosted its position in shares of Mastercard by 4.4% in the third quarter. Lafayette Investments Inc. now owns 524 shares of the credit services provider’s stock valued at $259,000 after acquiring an additional 22 shares during the period. Institutional investors own 97.28% of the company’s stock.

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.