JPMorgan Chase & Co. Lowers Mastercard (NYSE:MA) Price Target to $510.00

Mastercard (NYSE:MA) had its price target reduced by JPMorgan Chase & Co. from $520.00 to $510.00 in a research note issued to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit services provider’s stock.

Several other equities research analysts also recently issued reports on MA. TD Cowen initiated coverage on Mastercard in a report on Thursday, April 11th. They set a buy rating and a $545.00 price objective on the stock. The Goldman Sachs Group boosted their price target on Mastercard from $433.00 to $482.00 and gave the company a buy rating in a report on Thursday, January 11th. Robert W. Baird boosted their price target on Mastercard from $525.00 to $545.00 and gave the company an outperform rating in a report on Thursday, April 18th. Mizuho lowered their price target on Mastercard from $480.00 to $478.00 and set a buy rating for the company in a report on Thursday. Finally, Susquehanna reiterated a positive rating and issued a $535.00 price target on shares of Mastercard in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mastercard presently has an average rating of Moderate Buy and an average price target of $493.55.

Mastercard Price Performance

MA stock opened at $443.58 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard has a 52-week low of $357.85 and a 52-week high of $490.00. The stock’s 50 day moving average is $469.57 and its two-hundred day moving average is $437.74. The company has a market capitalization of $413.81 billion, a PE ratio of 35.26, a P/E/G ratio of 1.72 and a beta of 1.08.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for 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% compared to the same quarter last year. Analysts predict that Mastercard will post 14.22 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Monday, April 8th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 116,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total transaction of $51,624,640.00. Following the transaction, the insider now directly owns 96,651,308 shares of the company’s stock, valued at $43,013,698,112.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mastercard news, CEO Michael Miebach sold 7,851 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $475.92, for a total value of $3,736,447.92. Following the transaction, the chief executive officer now owns 47,640 shares in the company, valued at $22,672,828.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 116,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $445.04, for a total value of $51,624,640.00. Following the completion of the transaction, the insider now owns 96,651,308 shares in the company, valued at approximately $43,013,698,112.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 583,088 shares of company stock valued at $266,873,978. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Mastercard in the fourth quarter valued at about $26,000. VitalStone Financial LLC boosted 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 acquiring an additional 45 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Mastercard during the 4th quarter worth about $27,000. Westend Capital Management LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Hedge funds and other institutional investors 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.