Piper Sandler Raises Mastercard (NYSE:MA) Price Target to $536.00

Mastercard (NYSE:MA) had its price target hoisted by Piper Sandler from $531.00 to $536.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

MA has been the subject of a number of other research reports. TD Cowen raised their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a buy rating in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of Mastercard from $500.00 to $526.00 and gave the stock an outperform rating in a research note on Thursday. BNP Paribas upgraded shares of Mastercard to a strong-buy rating in a report on Thursday, July 25th. Evercore ISI reduced their target price on shares of Mastercard from $540.00 to $525.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Finally, Citigroup increased their price objective on shares of Mastercard from $528.00 to $538.00 and gave the company a buy rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $507.27.

Mastercard Stock Performance

Shares of MA stock traded down $20.01 during mid-day trading on Friday, hitting $442.01. 2,279,497 shares of the stock were exchanged, compared to its average volume of 2,508,484. The stock’s fifty day simple moving average is $446.48 and its two-hundred day simple moving average is $457.03. The stock has a market capitalization of $410.90 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 1.82 and a beta of 1.09. Mastercard has a 12-month low of $359.77 and a 12-month high of $490.00. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.09 and a current ratio of 1.14.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s dividend payout ratio is 20.99%.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the sale, the insider now directly owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Hai Ling sold 2,892 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $460.00, for a total transaction of $1,330,320.00. Following the transaction, the insider now owns 21,420 shares in the company, valued at $9,853,200. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the sale, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,314,928 shares of company stock valued at $1,044,421,131. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Mastercard

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hoxton Planning & Management LLC grew its position in shares of 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 acquiring an additional 22 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in shares of Mastercard by 5.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 484 shares of the credit services provider’s stock valued at $206,000 after purchasing an additional 23 shares during the last quarter. Benin Management CORP grew its holdings in Mastercard by 3.0% in the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after acquiring an additional 23 shares during the last quarter. Atticus Wealth Management LLC grew its holdings in Mastercard by 1.3% in the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock worth $835,000 after acquiring an additional 23 shares during the last quarter. Finally, Strategic Advisors LLC lifted its position in Mastercard by 0.3% during the 1st quarter. Strategic Advisors LLC now owns 6,881 shares of the credit services provider’s stock valued at $3,314,000 after acquiring an additional 23 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

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.