Bank of America Increases Mastercard (NYSE:MA) Price Target to $509.00

Mastercard (NYSE:MA) had its price objective hoisted by stock analysts at Bank of America from $480.00 to $509.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. Bank of America‘s price objective points to a potential upside of 1.72% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Citigroup increased their price target on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets restated an “outperform” rating and set a $520.00 price target on shares of Mastercard in a report on Wednesday, August 14th. KeyCorp increased their price target on Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Evercore ISI cut their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, TD Cowen increased their price target on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $512.08.

Mastercard Stock Performance

Mastercard stock traded up $2.69 during mid-day trading on Tuesday, hitting $500.40. 1,050,430 shares of the company’s stock traded hands, compared to its average volume of 2,428,688. The firm has a 50 day simple moving average of $461.70 and a two-hundred day simple moving average of $460.35. Mastercard has a fifty-two week low of $359.77 and a fifty-two week high of $501.74. The stock has a market cap of $465.18 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. On average, research analysts expect that Mastercard will post 14.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 111,000 shares of Mastercard stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $451.07, for a total value of $50,068,770.00. Following the transaction, the insider now directly owns 92,672,308 shares of the company’s stock, valued at approximately $41,801,697,969.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Foundation Mastercard sold 111,000 shares of Mastercard stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $451.07, for a total value of $50,068,770.00. Following the sale, the insider now directly owns 92,672,308 shares in the company, valued at approximately $41,801,697,969.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The disclosure for this sale can be found here. Insiders have sold 720,467 shares of company stock valued at $331,875,955 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

A number of large investors have recently made changes to their positions in MA. Gilbert & Cook Inc. boosted its position in shares of Mastercard by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 3,134 shares of the credit services provider’s stock valued at $1,337,000 after purchasing an additional 241 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in Mastercard by 8.8% in the fourth quarter. Aveo Capital Partners LLC now owns 1,427 shares of the credit services provider’s stock worth $609,000 after acquiring an additional 116 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in Mastercard by 7.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,431 shares of the credit services provider’s stock worth $3,565,000 after acquiring an additional 571 shares in the last quarter. Sachetta LLC bought a new stake in Mastercard in the fourth quarter worth $84,000. Finally, Quest Partners LLC purchased a new position in shares of Mastercard in the fourth quarter worth $694,000. 97.28% of the stock is currently owned by institutional investors.

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.