Bank of America Corporation Boosts Mastercard Incorporated (MA) Price Target to $170.00
Mastercard Incorporated (NYSE:MA) had its price objective raised by investment analysts at Bank of America Corporation from $165.00 to $170.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the credit services provider’s stock. Bank of America Corporation’s price target suggests a potential upside of 13.27% from the stock’s previous close.
A number of other brokerages have also recently weighed in on MA. Cantor Fitzgerald reissued a “buy” rating and set a $165.00 price objective on shares of Mastercard in a report on Tuesday, October 31st. Loop Capital raised their price target on Mastercard to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. BMO Capital Markets restated an “outperform” rating and set a $174.00 price target (up from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. KeyCorp restated an “overweight” rating and set a $170.00 price target (up from $165.00) on shares of Mastercard in a research report on Wednesday, November 1st. Finally, SunTrust Banks, Inc. raised their price target on Mastercard to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $157.68.
Mastercard (NYSE:MA) traded up $0.80 during trading hours on Monday, hitting $150.09. The company’s stock had a trading volume of 525,852 shares, compared to its average volume of 3,380,000. Mastercard has a 1 year low of $99.51 and a 1 year high of $152.00. The stock has a market cap of $158,050.00, a PE ratio of 34.64, a P/E/G ratio of 2.03 and a beta of 1.22. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.83.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. Mastercard’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. equities analysts expect that Mastercard will post 4.52 earnings per share for the current fiscal year.
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In related news, major shareholder Foundation Mastercard sold 87,623 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the completion of the transaction, the insider now directly owns 112,240,179 shares of the company’s stock, valued at $14,517,144,751.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Vosburg sold 14,200 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the transaction, the insider now directly owns 40,646 shares of the company’s stock, valued at $5,766,041.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,623 shares of company stock valued at $14,916,143. Corporate insiders own 0.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Glassman Wealth Services raised its position in Mastercard by 0.3% during the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after purchasing an additional 6 shares during the period. Arbor Wealth Management LLC raised its holdings in shares of Mastercard by 0.3% in the second quarter. Arbor Wealth Management LLC now owns 2,878 shares of the credit services provider’s stock worth $273,000 after buying an additional 8 shares during the period. Homrich & Berg raised its holdings in shares of Mastercard by 0.3% in the third quarter. Homrich & Berg now owns 2,558 shares of the credit services provider’s stock worth $260,000 after buying an additional 8 shares during the period. Norway Savings Bank raised its holdings in shares of Mastercard by 1.1% in the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock worth $117,000 after buying an additional 10 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after buying an additional 12 shares during the period. 76.08% of the stock is owned by institutional investors.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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