Mastercard (NYSE:MA) Hits New 52-Week High Following Analyst Upgrade

Mastercard Incorporated (NYSE:MA)’s share price hit a new 52-week high during mid-day trading 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 changing hands. The stock had previously closed at $516.34.

A number of other research analysts have also issued reports on MA. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a report on Wednesday, August 14th. Robert W. Baird raised their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Evercore ISI reduced their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Susquehanna raised 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. Finally, TD Cowen lifted their target price on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $525.68.

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $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 available through this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the transaction, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,809 shares of company stock valued at $159,610,703. Company 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. Palisade Asset Management LLC purchased a new position in Mastercard during the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Mastercard in the 2nd quarter worth approximately $34,000. Fairway Wealth LLC bought a new position in shares of Mastercard in the second quarter valued at approximately $35,000. Lowe Wealth Advisors LLC increased its position in shares of Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its holdings in Mastercard by 168.6% during the first quarter. Valued Wealth Advisors LLC now owns 94 shares of the credit services provider’s stock worth $45,000 after acquiring an additional 59 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

The firm has a market cap of $476.91 billion, a PE ratio of 40.78, a PEG ratio of 2.22 and a beta of 1.10. 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 company has a 50-day simple moving average of $489.16 and a two-hundred day simple moving average of $464.58.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share 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 the consensus estimate of $6.85 billion. As a group, equities research analysts forecast that Mastercard Incorporated will post 14.3 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. 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 payout ratio is currently 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.