Mastercard (NYSE:MA) had its price target boosted by investment analysts at SunTrust Banks to $340.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. SunTrust Banks’ target price points to a potential upside of 17.81% from the stock’s current price.

MA has been the topic of a number of other reports. Tigress Financial reaffirmed a “buy” rating on shares of Mastercard in a research report on Thursday, August 22nd. William Blair reiterated an “outperform” rating on shares of Mastercard in a report on Friday, September 13th. BMO Capital Markets lifted their price target on shares of Mastercard to $348.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of Mastercard from $291.00 to $315.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, ValuEngine downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Mastercard has an average rating of “Buy” and an average target price of $305.13.

Shares of Mastercard stock opened at $288.61 on Wednesday. Mastercard has a one year low of $171.89 and a one year high of $293.69. The firm has a market capitalization of $291.17 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 2.37 and a beta of 1.04. The business has a 50-day simple moving average of $280.39 and a 200 day simple moving average of $273.30. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.14. Mastercard had a return on equity of 146.92% and a net margin of 42.50%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts expect that Mastercard will post 7.69 EPS for the current year.

Mastercard declared that its board has initiated a share buyback program on Tuesday, December 3rd that permits the company to buyback $8.00 billion in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, major shareholder Foundation Mastercard sold 7,542 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $278.16, for a total value of $2,097,882.72. Following the completion of the transaction, the insider now directly owns 112,015,230 shares of the company’s stock, valued at $31,158,156,376.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $280.00, for a total value of $1,400,000.00. Following the completion of the transaction, the director now directly owns 32,119 shares of the company’s stock, valued at $8,993,320. The disclosure for this sale can be found here. Insiders have sold a total of 95,509 shares of company stock worth $26,273,562 over the last ninety days. Insiders own 3.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Ellevest Inc. lifted its position in Mastercard by 52.8% during the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock valued at $29,000 after buying an additional 38 shares during the period. Howe & Rusling Inc. purchased a new position in Mastercard during the third quarter worth about $29,000. Princeton Global Asset Management LLC bought a new stake in Mastercard in the 2nd quarter worth about $33,000. TCG Advisors LP grew its position in Mastercard by 49.5% in the 2nd quarter. TCG Advisors LP now owns 151 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 50 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its stake in Mastercard by 23.0% in the 2nd quarter. Virtus ETF Advisers LLC now owns 203 shares of the credit services provider’s stock valued at $54,000 after buying an additional 38 shares during the last quarter. 73.87% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Company Profile

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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