Mastercard (NYSE:MA) Price Target Cut to $530.00

Mastercard (NYSE:MA) had its target price reduced by Barclays from $549.00 to $530.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other analysts also recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Mastercard from $525.00 to $545.00 and gave the company an outperform rating in a report on Thursday, April 18th. Oppenheimer reiterated an outperform rating and issued a $510.00 price target on shares of Mastercard in a research note on Thursday, February 1st. 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 note on Thursday, May 2nd. Morgan Stanley lowered their target price on Mastercard from $536.00 to $524.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Finally, William Blair reissued an outperform rating on shares of Mastercard in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $496.27.

Mastercard Stock Up 1.3 %

Shares of NYSE:MA traded up $5.79 during midday trading on Monday, reaching $449.37. 2,536,211 shares of the company were exchanged, compared to its average volume of 2,569,744. The firm has a market cap of $419.21 billion, a PE ratio of 35.72, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard has a fifty-two week low of $357.85 and a fifty-two week high of $490.00. The stock has a fifty day simple moving average of $469.07 and a two-hundred day simple moving average of $438.74.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.09. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 earnings per share. As a group, sell-side analysts forecast that Mastercard will post 14.22 earnings per share for the current year.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the completion of the transaction, the insider now owns 97,543,308 shares of the company’s stock, valued at $47,527,976,823. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Foundation Mastercard sold 200 shares of Mastercard stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the transaction, the insider now owns 97,543,308 shares in the company, valued at approximately $47,527,976,823. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly owns 47,640 shares of the company’s stock, valued at approximately $22,672,828.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 725,088 shares of company stock worth $329,657,858. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allen Investment Management LLC lifted its position in shares of Mastercard by 1.2% in the 1st quarter. Allen Investment Management LLC now owns 320,617 shares of the credit services provider’s stock worth $154,400,000 after purchasing an additional 3,883 shares during the period. PFG Advisors boosted its position in Mastercard by 4.2% during the first quarter. PFG Advisors now owns 3,287 shares of the credit services provider’s stock valued at $1,583,000 after acquiring an additional 134 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Mastercard by 6.8% during the first quarter. Oppenheimer & Co. Inc. now owns 47,726 shares of the credit services provider’s stock valued at $22,983,000 after acquiring an additional 3,043 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Mastercard by 3.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,390 shares of the credit services provider’s stock worth $1,151,000 after acquiring an additional 71 shares during the period. Finally, Brooklyn Investment Group raised its position in shares of Mastercard by 1.8% in the 1st quarter. Brooklyn Investment Group now owns 5,828 shares of the credit services provider’s stock worth $2,788,000 after acquiring an additional 104 shares in the last quarter. 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.