Bank of America cut shares of Mastercard (NYSE:MA – Free Report) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat.com reports. They currently have $480.00 price target on the credit services provider’s stock, down from their previous price target of $505.00.
Several other analysts also recently weighed in on MA. JPMorgan Chase & Co. reduced their price objective on shares of Mastercard from $520.00 to $510.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. Barclays decreased their price objective on shares of Mastercard from $549.00 to $530.00 and set an overweight rating for the company in a research note on Monday, May 6th. Piper Sandler initiated coverage on Mastercard in a research report on Monday, May 13th. They set an overweight rating and a $531.00 target price on the stock. Susquehanna restated a positive rating and set a $535.00 price target on shares of Mastercard in a research note on Wednesday, April 3rd. Finally, Evercore ISI reduced their price objective 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $498.57.
View Our Latest Research Report on MA
Mastercard Price Performance
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (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 during the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the business earned $2.80 EPS. Mastercard’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts forecast that Mastercard will post 14.26 EPS for the current fiscal year.
Mastercard Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio is currently 20.99%.
Insider Buying and Selling
In other Mastercard news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $447.23, for a total value of $134,169.00. Following the sale, the insider now owns 4,063 shares of the company’s stock, valued at $1,817,095.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sandra A. Arkell sold 300 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $447.23, for a total value of $134,169.00. Following the sale, the insider now directly owns 4,063 shares in the company, valued at $1,817,095.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 111,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $457.15, for a total transaction of $50,743,650.00. Following the transaction, the insider now directly owns 97,432,308 shares of the company’s stock, valued at $44,541,179,602.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,163,228 shares of company stock valued at $1,428,540,870. 0.10% of the stock is owned by insiders.
Institutional Trading of Mastercard
A number of large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in shares of Mastercard in the fourth quarter valued at approximately $26,000. VitalStone Financial LLC lifted its stake in shares of 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 purchasing an additional 45 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in shares of Mastercard during the fourth quarter worth $27,000. Westend Capital Management LLC acquired a new position in Mastercard in the first quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in Mastercard during the first quarter worth about $27,000. Institutional investors and hedge funds 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.
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