Guggenheim upgraded shares of Mastercard Incorporated (NYSE:MA) from a neutral rating to a buy rating in a research note issued to investors on Monday, September 11th, Marketbeat.com reports. They currently have $153.00 price objective on the credit services provider’s stock, up from their previous price objective of $135.00.
A number of other equities analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed a top pick rating and issued a $130.00 target price on shares of Mastercard in a research note on Friday, June 16th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $150.00 target price (up from $143.00) on shares of Mastercard in a research note on Friday, September 8th. BidaskClub raised shares of Mastercard from a hold rating to a buy rating in a research note on Wednesday, July 12th. Morgan Stanley boosted their target price on shares of Mastercard from $124.00 to $131.00 and gave the stock an overweight rating in a research note on Tuesday, May 30th. Finally, Zacks Investment Research raised shares of Mastercard from a hold rating to a buy rating and set a $136.00 target price for the company in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $140.47.
Shares of Mastercard (MA) opened at 141.72 on Monday. Mastercard has a 52-week low of $99.51 and a 52-week high of $143.59. The stock’s 50 day moving average price is $133.90 and its 200-day moving average price is $122.61. The firm has a market cap of $150.92 billion, a PE ratio of 35.17 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Mastercard will post $4.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is currently 21.78%.
In other Mastercard news, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the sale, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $126.60, for a total transaction of $11,092,438.80. Following the sale, the insider now directly owns 112,736,681 shares in the company, valued at $14,272,463,814.60. The disclosure for this sale can be found here. Insiders have sold 850,468 shares of company stock worth $109,574,694 over the last ninety days. Insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. bought a new position in shares of Mastercard in the second quarter valued at about $1,873,000. USA Financial Portformulas Corp raised its position in shares of Mastercard by 945.0% in the second quarter. USA Financial Portformulas Corp now owns 26,615 shares of the credit services provider’s stock valued at $3,232,000 after purchasing an additional 24,068 shares during the period. Farmers National Bank raised its position in shares of Mastercard by 7.2% in the second quarter. Farmers National Bank now owns 13,287 shares of the credit services provider’s stock valued at $1,614,000 after purchasing an additional 889 shares during the period. Kimelman & Baird LLC raised its position in shares of Mastercard by 0.7% in the second quarter. Kimelman & Baird LLC now owns 109,983 shares of the credit services provider’s stock valued at $13,357,000 after purchasing an additional 765 shares during the period. Finally, Sentry Investment Management LLC raised its position in shares of Mastercard by 1.0% in the second quarter. Sentry Investment Management LLC now owns 75,771 shares of the credit services provider’s stock valued at $9,202,000 after purchasing an additional 736 shares during the period. 76.04% of the stock is currently owned by institutional investors.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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