Mastercard (NYSE:MA) Price Target Cut to $500.00

Mastercard (NYSE:MA) had its price target cut by JPMorgan Chase & Co. from $510.00 to $500.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Bank of America cut Mastercard from a buy rating to a neutral rating and cut their price target for the stock from $505.00 to $480.00 in a report on Wednesday, July 10th. Barclays cut their price target on Mastercard from $549.00 to $530.00 and set an overweight rating for the company in a report on Monday, May 6th. Piper Sandler began coverage on Mastercard in a report on Monday, May 13th. They issued an overweight rating and a $531.00 price target for the company. TD Cowen started coverage on Mastercard in a report on Thursday, April 11th. They issued a buy rating and a $545.00 price target for the company. Finally, Evercore ISI dropped their target price on Mastercard from $540.00 to $525.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of Moderate Buy and a consensus target price of $498.13.

Mastercard Stock Down 1.1 %

MA opened at $443.69 on Thursday. The business’s fifty day moving average is $448.48 and its two-hundred day moving average is $455.52. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $412.46 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 1.75 and a beta of 1.09. Mastercard has a one year low of $359.77 and a one year high of $490.00.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the business earned $2.80 earnings per share. Mastercard’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that Mastercard will post 14.25 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 109,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $462.78, for a total value of $50,443,020.00. Following the completion of the sale, the insider now owns 96,996,308 shares of the company’s stock, valued at $44,887,951,416.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Sandra A. Arkell sold 300 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $454.00, for a total value of $136,200.00. Following the completion of the transaction, the insider now owns 3,463 shares of the company’s stock, valued at $1,572,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 109,000 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $462.78, for a total value of $50,443,020.00. Following the completion of the transaction, the insider now directly owns 96,996,308 shares of the company’s stock, valued at approximately $44,887,951,416.24. The disclosure for this sale can be found here. Insiders sold 2,943,228 shares of company stock valued at $1,327,934,080 over the last quarter. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MA. Altshuler Shaham Ltd purchased a new position in Mastercard in the fourth quarter valued at about $26,000. VitalStone Financial LLC lifted its holdings in Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after buying an additional 45 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in Mastercard during the 4th quarter worth approximately $27,000. Westend Capital Management LLC bought a new position in Mastercard during the 1st quarter worth approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in Mastercard during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Company Profile

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.