Mastercard (NYSE:MA – Free Report) had its price target raised by Susquehanna from $605.00 to $670.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a positive rating on the credit services provider’s stock.
Other equities research analysts have also issued reports about the stock. Piper Sandler upped their price objective on shares of Mastercard from $575.00 to $591.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. KeyCorp upped their price objective on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Barclays upped their price objective on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Seaport Res Ptn cut shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley raised their price target on shares of Mastercard from $564.00 to $654.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Four equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $595.64.
Read Our Latest Stock Analysis on Mastercard
Mastercard Price Performance
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Research analysts anticipate that Mastercard will post 14.47 EPS for the current fiscal year.
Mastercard announced that its board has initiated a stock repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Mastercard Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be given a $0.76 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, January 10th. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s payout ratio is currently 23.00%.
Institutional Trading of Mastercard
Several hedge funds and other institutional investors have recently modified their holdings of MA. International Assets Investment Management LLC increased its holdings in Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Bank of Montreal Can boosted its stake in shares of Mastercard by 51.7% in the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after purchasing an additional 1,965,782 shares in the last quarter. FMR LLC boosted its stake in shares of Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after purchasing an additional 453,773 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Mastercard by 52.8% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock valued at $573,017,000 after purchasing an additional 409,334 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.
About Mastercard
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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