Mastercard Incorporated (MA) Given New $163.00 Price Target at Nomura
Mastercard Incorporated (NYSE:MA) had its target price raised by Nomura from $153.00 to $163.00 in a report released on Friday morning. They currently have a buy rating on the credit services provider’s stock.
MA has been the subject of a number of other research reports. Wedbush reaffirmed a buy rating and set a $140.00 target price (up previously from $129.00) on shares of Mastercard in a research note on Wednesday. BidaskClub downgraded shares of Mastercard from a strong-buy rating to a buy rating in a research note on Saturday, June 10th. Deutsche Bank AG reissued a buy rating and set a $150.00 price target (up previously from $124.00) on shares of Mastercard in a research report on Monday, July 10th. Credit Suisse Group reissued a buy rating and set a $125.00 price target on shares of Mastercard in a research report on Friday, July 7th. Finally, Jefferies Group LLC reissued a buy rating and set a $147.00 price target (up previously from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Mastercard currently has an average rating of Buy and an average price target of $136.78.
Shares of Mastercard (NYSE:MA) traded up 0.51% during mid-day trading on Friday, reaching $137.22. The company’s stock had a trading volume of 4,452,115 shares. Mastercard has a 12 month low of $97.49 and a 12 month high of $138.64. The company has a 50-day moving average of $131.41 and a 200-day moving average of $120.91. The company has a market cap of $146.13 billion, a P/E ratio of 34.05 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts forecast that Mastercard will post $4.40 earnings per share for the current fiscal year.
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In other news, CFO Martina Hundmejean sold 91,107 shares of Mastercard 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 transaction, the chief financial officer now owns 170,570 shares in the company, valued at approximately $22,138,280.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard 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 transaction, the insider now owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The disclosure for this sale can be found here. Insiders have sold a total of 850,468 shares of company stock worth $109,574,694 in the last quarter. Corporate insiders own 0.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Mastercard by 1.3% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 16,438 shares of the credit services provider’s stock valued at $1,849,000 after buying an additional 210 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Mastercard by 21.1% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 8,027 shares of the credit services provider’s stock valued at $903,000 after buying an additional 1,398 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Mastercard by 2.3% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 25,688 shares of the credit services provider’s stock valued at $2,701,000 after buying an additional 581 shares in the last quarter. Baxter Bros Inc. lifted its stake in shares of Mastercard by 12.2% during the 1st quarter. Baxter Bros Inc. now owns 13,290 shares of the credit services provider’s stock valued at $1,495,000 after buying an additional 1,445 shares in the last quarter. Finally, Waldron LP purchased a new position in shares of Mastercard during the 1st quarter valued at $823,000. Institutional investors and hedge funds own 76.10% of the company’s stock.
Mastercard Company Profile
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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