Mastercard (NYSE:MA) had its price objective upped by Barclays from $178.00 to $195.00 in a research note issued to investors on Friday. The brokerage currently has an “overweight” rating on the credit services provider’s stock. Barclays’ price objective would suggest a potential upside of 14.34% from the stock’s current price.
MA has been the subject of a number of other reports. Citigroup raised their price target on Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Robert W. Baird raised their price target on Mastercard from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Piper Jaffray Companies restated a “buy” rating and issued a $161.00 price target on shares of Mastercard in a research note on Friday, October 13th. Stephens started coverage on Mastercard in a research note on Friday, October 13th. They issued an “overweight” rating and a $166.00 price target for the company. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $176.54.
Shares of Mastercard (NYSE MA) traded down $2.38 during trading on Friday, reaching $170.55. The company had a trading volume of 6,485,938 shares, compared to its average volume of 3,050,000. Mastercard has a 1-year low of $104.61 and a 1-year high of $177.11. The firm has a market cap of $180,560.00, a price-to-earnings ratio of 46.73, a PEG ratio of 1.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66.
Mastercard announced that its board has initiated a stock buyback plan on Monday, December 4th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total value of $2,606,122.27. Following the completion of the sale, the insider now directly owns 47,901 shares in the company, valued at approximately $7,271,850.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MA. Massey Quick Simon & CO. LLC acquired a new position in Mastercard in the 3rd quarter valued at $102,000. Thompson Davis & CO. Inc. raised its holdings in Mastercard by 170.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 546 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Mastercard in the 3rd quarter valued at $106,000. Proficio Capital Partners LLC raised its holdings in Mastercard by 1.3% in the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 12 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Mastercard in the 2nd quarter valued at $121,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
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About Mastercard
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.
