Mastercard (NYSE:MA) Price Target Raised to $610.00

Mastercard (NYSE:MA) had its price target boosted by JPMorgan Chase & Co. from $590.00 to $610.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird raised their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Macquarie raised their price objective on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Susquehanna increased their price target on shares of Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and an average price target of $595.64.

Mastercard Trading Down 1.8 %

NYSE:MA opened at $555.63 on Friday. The firm has a market capitalization of $509.97 billion, a P/E ratio of 42.03, a PEG ratio of 2.17 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard has a one year low of $428.86 and a one year high of $576.94. The company’s 50-day simple moving average is $528.28 and its 200 day simple moving average is $501.43.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. As a group, analysts forecast that Mastercard will post 14.47 EPS for the current fiscal year.

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be issued a $0.76 dividend. The ex-dividend date is Friday, January 10th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s payout ratio is currently 23.00%.

Mastercard declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Mastercard

A number of large investors have recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in shares of Mastercard in the 3rd quarter worth approximately $25,000. First Personal Financial Services acquired a new position in shares of Mastercard during the third quarter worth $39,000. Legacy Investment Solutions LLC purchased a new stake in shares of Mastercard during the 3rd quarter valued at $55,000. Lowe Wealth Advisors LLC boosted its position in shares of Mastercard by 24.1% in the 4th quarter. Lowe Wealth Advisors LLC now owns 108 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 21 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Mastercard during the 3rd quarter valued at about $54,000. Institutional investors own 97.28% of the company’s stock.

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.