Mastercard (NYSE:MA) had its target price boosted by analysts at Morgan Stanley from $163.00 to $178.00 in a research report issued on Thursday. The firm presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 5.68% from the company’s previous close.
Several other analysts also recently commented on MA. Vetr upgraded shares of Mastercard from a “sell” rating to a “hold” rating and set a $158.70 price target for the company in a research report on Thursday, January 11th. Sanford C. Bernstein reiterated a “buy” rating and issued a $180.00 price target (up previously from $166.00) on shares of Mastercard in a research report on Monday, December 11th. Cowen reiterated a “buy” rating and issued a $137.00 price target on shares of Mastercard in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Mizuho restated a “hold” rating and set a $140.00 price objective on shares of Mastercard in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-nine have given a buy rating to the company. Mastercard has an average rating of “Buy” and an average target price of $164.66.
Shares of Mastercard (NYSE:MA) traded up $1.33 during trading on Thursday, hitting $168.44. 608,123 shares of the stock traded hands, compared to its average volume of 2,970,000. Mastercard has a fifty-two week low of $104.01 and a fifty-two week high of $168.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $178,320.00, a PE ratio of 39.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.21.
Mastercard declared that its board has authorized a share buyback program on Monday, December 4th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now directly owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC acquired a new stake in Mastercard in the 3rd quarter valued at about $102,000. Chicago Partners Investment Group LLC grew its stake in Mastercard by 1,365.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 874 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake 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 during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Mastercard in the 3rd quarter valued at about $106,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of Mastercard by 1.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 12 shares during the last quarter. 75.62% of the stock is currently owned by hedge funds and other institutional investors.
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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.
