Mastercard Incorporated (NYSE:MA) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Mastercard Incorporated (NYSE:MA) from a hold rating to a buy rating in a report issued on Wednesday, July 12th.
A number of other equities research analysts also recently weighed in on the company. Piper Jaffray Companies reiterated a buy rating on shares of Mastercard in a report on Friday, April 14th. Jefferies Group LLC set a $123.00 target price on Mastercard and gave the stock a buy rating in a report on Saturday, March 25th. Zacks Investment Research upgraded Mastercard from a sell rating to a hold rating in a report on Wednesday, May 3rd. Royal Bank Of Canada restated a top pick rating and set a $130.00 price objective on shares of Mastercard in a report on Friday, June 16th. Finally, BMO Capital Markets boosted their price objective on Mastercard from $123.00 to $126.00 and gave the company an outperform rating in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $128.20.
Shares of Mastercard (NYSE:MA) opened at 129.82 on Wednesday. The firm has a market capitalization of $138.24 billion, a price-to-earnings ratio of 32.21 and a beta of 1.17. Mastercard has a 12-month low of $94.41 and a 12-month high of $132.20. The company’s 50-day moving average is $124.99 and its 200-day moving average is $116.49.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. On average, equities analysts forecast that Mastercard will post $4.39 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, July 5th. Mastercard’s dividend payout ratio is currently 21.78%.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $127.98, for a total value of $11,213,351.64. Following the completion of the sale, the insider now owns 112,649,063 shares of the company’s stock, valued at approximately $14,416,827,082.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total value of $11,824,777.53. Following the completion of the sale, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 704,433 shares of company stock valued at $90,655,568. 0.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Mastercard by 2.9% in the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock worth $7,176,378,000 after buying an additional 1,814,116 shares during the period. State Street Corp increased its position in Mastercard by 0.4% in the first quarter. State Street Corp now owns 37,454,824 shares of the credit services provider’s stock worth $4,212,546,000 after buying an additional 140,515 shares during the period. Ameriprise Financial Inc. increased its position in Mastercard by 6.2% in the first quarter. Ameriprise Financial Inc. now owns 10,168,300 shares of the credit services provider’s stock worth $1,143,636,000 after buying an additional 591,427 shares during the period. Canada Pension Plan Investment Board increased its position in Mastercard by 1.4% in the first quarter. Canada Pension Plan Investment Board now owns 8,409,658 shares of the credit services provider’s stock worth $945,834,000 after buying an additional 114,900 shares during the period. Finally, Norges Bank purchased a new position in Mastercard during the fourth quarter worth about $857,217,000. Hedge funds and other institutional investors own 75.76% of the company’s stock.
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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