Mastercard (NYSE:MA) Price Target Raised to $530.00 at Wells Fargo & Company

Mastercard (NYSE:MAFree Report) had its price target lifted by Wells Fargo & Company from $490.00 to $530.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets lifted their price target on Mastercard from $480.00 to $490.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Monness Crespi & Hardt initiated coverage on shares of Mastercard in a report on Wednesday, December 20th. They set a neutral rating on the stock. Jefferies Financial Group upped their price objective on shares of Mastercard from $425.00 to $480.00 and gave the company a buy rating in a research report on Tuesday, December 12th. Raymond James boosted their price target on Mastercard from $452.00 to $504.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, KeyCorp lifted their price objective on Mastercard from $475.00 to $490.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $476.35.

Check Out Our Latest Research Report on MA

Mastercard Stock Performance

Shares of MA stock opened at $469.37 on Wednesday. The stock’s 50-day moving average is $450.04 and its two-hundred day moving average is $420.06. Mastercard has a fifty-two week low of $340.21 and a fifty-two week high of $479.14. The firm has a market cap of $437.87 billion, a P/E ratio of 39.68, a PEG ratio of 1.79 and a beta of 1.08. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.17 and a quick ratio of 1.17.

Mastercard (NYSE:MAGet Free Report) last posted its earnings results on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.10. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.46 billion. Mastercard had a return on equity of 191.22% and a net margin of 44.60%. During the same period last year, the company earned $2.65 earnings per share. Analysts predict that Mastercard will post 14.36 earnings per share for the current fiscal year.

Mastercard declared that its board has authorized a stock buyback plan on Tuesday, December 5th that allows the company to buyback $11.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Tuesday, April 9th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $2.64 annualized dividend and a yield of 0.56%. Mastercard’s dividend payout ratio is presently 22.32%.

Insider Activity

In other news, insider Craig Vosburg sold 8,900 shares of Mastercard stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $430.26, for a total transaction of $3,829,314.00. Following the transaction, the insider now owns 46,491 shares in the company, valued at approximately $20,003,217.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Craig Vosburg sold 8,900 shares of Mastercard stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $430.26, for a total value of $3,829,314.00. Following the sale, the insider now owns 46,491 shares of the company’s stock, valued at approximately $20,003,217.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajay Bhalla sold 98 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $439.52, for a total transaction of $43,072.96. Following the completion of the sale, the insider now directly owns 6,235 shares in the company, valued at approximately $2,740,407.20. The disclosure for this sale can be found here. Insiders have sold 54,428 shares of company stock worth $24,911,617 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Mastercard

Several institutional investors and hedge funds have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard in the first quarter valued at about $25,000. GeoWealth Management LLC bought a new position in Mastercard during the 2nd quarter worth $26,000. Altshuler Shaham Ltd bought a new position in Mastercard during the 4th quarter worth $26,000. VitalStone Financial LLC increased its position in Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 45 shares during the period. Finally, Hibernia Wealth Partners LLC bought a new position in Mastercard during the 3rd quarter worth $27,000. Institutional investors own 74.94% of the company’s stock.

Mastercard Company Profile

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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.

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