Brokerages Set Mastercard Incorporated (NYSE:MA) Price Target at $607.96

Mastercard Incorporated (NYSE:MA) has earned a consensus recommendation of “Moderate Buy” from the thirty-one research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $607.96.

Several equities research analysts recently commented on the company. Oppenheimer cut their price target on Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Monness Crespi & Hardt lowered Mastercard from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Macquarie boosted their price target on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Evercore ISI initiated coverage on shares of Mastercard in a research report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price objective for the company. Finally, KeyCorp boosted their target price on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Friday, January 31st.

Mastercard Trading Up 0.8 %

Shares of MA stock opened at $517.46 on Tuesday. Mastercard has a fifty-two week low of $428.86 and a fifty-two week high of $582.23. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $538.81 and its two-hundred day moving average is $528.64. The firm has a market capitalization of $471.77 billion, a P/E ratio of 37.25, a PEG ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Research analysts expect that Mastercard will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.59%. Mastercard’s dividend payout ratio is currently 21.89%.

Insider Buying and Selling at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the sale, the chief executive officer now owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the transaction, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Mastercard during the 4th quarter worth approximately $6,022,224,000. GAMMA Investing LLC boosted its holdings in shares of Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Mastercard during the fourth quarter worth approximately $837,017,000. Proficio Capital Partners LLC increased its holdings in shares of Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after acquiring an additional 1,553,329 shares during the period. Finally, Northern Trust Corp raised its position in Mastercard by 15.2% in the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock valued at $4,817,684,000 after purchasing an additional 1,207,787 shares during the last quarter. 97.28% of the stock is 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.