Mastercard (NYSE:MA) Hits New 1-Year High Following Analyst Upgrade

Mastercard Incorporated (NYSE:MA) shares hit a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $570.00 to $593.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Mastercard traded as high as $518.32 and last traded at $516.42, with a volume of 132180 shares. The stock had previously closed at $516.34.

Several other research firms have also issued reports on MA. Robert W. Baird boosted their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Susquehanna increased their target price on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Compass Point assumed coverage on Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price target for the company. KeyCorp increased their price objective on Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Barclays raised their target price on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $525.68.

Insider Transactions at Mastercard

In related news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the transaction, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard 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 owns 17,118 shares in the company, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 340,809 shares of company stock worth $159,610,703. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mastercard

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jackson Wealth Management LLC boosted its position in Mastercard by 74.8% during the 3rd quarter. Jackson Wealth Management LLC now owns 30,987 shares of the credit services provider’s stock valued at $15,301,000 after buying an additional 13,256 shares during the period. Lafayette Investments Inc. boosted its holdings in shares of Mastercard by 4.4% during the third quarter. Lafayette Investments Inc. now owns 524 shares of the credit services provider’s stock worth $259,000 after purchasing an additional 22 shares during the period. Harvey Investment Co. LLC grew its stake in shares of Mastercard by 1.3% in the third quarter. Harvey Investment Co. LLC now owns 44,686 shares of the credit services provider’s stock worth $22,066,000 after purchasing an additional 575 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Mastercard during the 3rd quarter valued at about $915,000. Finally, X Square Capital LLC increased its holdings in Mastercard by 12.9% during the 3rd quarter. X Square Capital LLC now owns 1,197 shares of the credit services provider’s stock valued at $591,000 after purchasing an additional 137 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Mastercard Price Performance

The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50-day simple moving average of $489.16 and a 200 day simple moving average of $464.58. The firm has a market cap of $476.91 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. On average, analysts anticipate that Mastercard Incorporated 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 $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s dividend payout ratio is 20.99%.

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.