Mastercard Inc (NYSE:MA) declared a quarterly dividend on Tuesday, September 22nd, RTT News reports. Stockholders of record on Friday, October 9th will be paid a dividend of 0.40 per share by the credit services provider on Monday, November 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, October 8th.
Mastercard has raised its dividend by 73.7% over the last three years and has raised its dividend annually for the last 1 consecutive years. Mastercard has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mastercard to earn $8.49 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.8%.
Shares of Mastercard stock opened at $324.53 on Thursday. Mastercard has a 52 week low of $199.99 and a 52 week high of $367.25. The business’s fifty day simple moving average is $337.25 and its 200-day simple moving average is $295.35. The firm has a market cap of $324.87 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.82 and a beta of 1.11. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.92.
Several brokerages have weighed in on MA. Oppenheimer began coverage on Mastercard in a research note on Friday, July 31st. They issued a “hold” rating on the stock. Mizuho began coverage on Mastercard in a report on Wednesday, August 26th. They issued a “buy” rating and a $400.00 price target for the company. JPMorgan Chase & Co. raised their price target on Mastercard from $315.00 to $369.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Jefferies Financial Group reissued a “hold” rating and issued a $305.00 price target on shares of Mastercard in a report on Tuesday, August 11th. Finally, Morgan Stanley raised their price target on Mastercard from $311.00 to $315.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Six equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $347.03.
In other Mastercard news, Director Richard Haythornthwaite sold 6,583 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $328.87, for a total transaction of $2,164,951.21. Following the completion of the sale, the director now owns 27,432 shares of the company’s stock, valued at $9,021,561.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Fraccaro sold 3,458 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $350.00, for a total value of $1,210,300.00. Following the sale, the insider now directly owns 5,147 shares of the company’s stock, valued at approximately $1,801,450. The disclosure for this sale can be found here. In the last ninety days, insiders sold 812,825 shares of company stock valued at $247,745,179. Company insiders own 3.79% of the company’s stock.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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