Mastercard (NYSE:MA) had its target price increased by analysts at Morgan Stanley from $178.00 to $192.00 in a research note issued to investors on Friday. The brokerage presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 12.58% from the stock’s previous close.
Several other research analysts also recently commented on MA. Loop Capital lifted their price target on Mastercard to $193.00 and gave the stock a “positive” rating in a research report on Friday. They noted that the move was a valuation call. Guggenheim reaffirmed a “buy” rating and issued a $201.00 price target on shares of Mastercard in a research report on Friday. Argus raised Mastercard from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Friday. Zacks Investment Research downgraded Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Piper Jaffray Companies lifted their price target on Mastercard from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $176.54.
Shares of Mastercard (NYSE MA) traded down $2.38 during midday trading on Friday, reaching $170.55. The company’s stock had a trading volume of 6,485,938 shares, compared to its average volume of 3,050,000. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $180,560.00, a P/E ratio of 46.73, a P/E/G ratio of 1.82 and a beta of 1.26. Mastercard has a 52 week low of $104.61 and a 52 week high of $177.11.
Mastercard announced that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’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 sale, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in Mastercard by 784.3% in the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock worth $2,048,899,000 after purchasing an additional 14,962,583 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Mastercard by 289.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock worth $433,643,000 after purchasing an additional 2,654,308 shares in the last quarter. Harding Loevner LP boosted its stake in Mastercard by 170.7% in the third quarter. Harding Loevner LP now owns 3,447,079 shares of the credit services provider’s stock worth $194,599,000 after purchasing an additional 2,173,507 shares in the last quarter. Capital Research Global Investors boosted its stake in Mastercard by 15.8% in the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock worth $1,540,665,000 after purchasing an additional 1,729,179 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Mastercard by 2.3% in the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock worth $7,930,357,000 after purchasing an additional 1,490,267 shares in the last quarter. Hedge funds and other institutional investors own 75.66% of the company’s stock.
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Mastercard Company Profile
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.
