Wells Fargo & Co restated their outperform rating on shares of Mastercard (NYSE:MA) in a research report report published on Tuesday, January 9th, The Fly reports. Wells Fargo & Co currently has a $178.00 price objective on the credit services provider’s stock, up from their prior price objective of $167.00.
Other analysts have also recently issued research reports about the company. Credit Suisse Group restated a hold rating and issued a $164.00 price target on shares of Mastercard in a report on Monday, January 8th. Barclays reiterated a buy rating and set a $170.00 target price on shares of Mastercard in a report on Friday, January 5th. Mizuho upgraded Mastercard from a neutral rating to a buy rating in a report on Thursday, January 4th. Royal Bank of Canada cut Mastercard from a top pick rating to an outperform rating and set a $130.00 price target for the company. in a report on Thursday, January 4th. Finally, Zacks Investment Research lowered Mastercard from a buy rating to a hold rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $164.92.
Mastercard (NYSE MA) traded up $1.81 during trading hours on Tuesday, hitting $169.00. The stock had a trading volume of 5,809,659 shares, compared to its average volume of 2,910,000. Mastercard has a fifty-two week low of $104.01 and a fifty-two week high of $170.81. The firm has a market cap of $178,910.00, a P/E ratio of 39.39, a PEG ratio of 1.82 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be given a $0.25 dividend. This is an increase from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a yield of 0.59%. Mastercard’s payout ratio is presently 23.31%.
Mastercard declared that its Board of Directors has initiated a stock buyback plan on Monday, December 4th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the sale, the insider now directly owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Mastercard by 2.3% during 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 acquiring an additional 1,490,267 shares in the last quarter. Janus Henderson Group PLC raised 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 valued at $2,048,899,000 after buying an additional 14,962,583 shares during the period. Jennison Associates LLC raised its stake in Mastercard by 0.5% in the fourth quarter. Jennison Associates LLC now owns 15,246,959 shares of the credit services provider’s stock valued at $2,307,780,000 after buying an additional 82,024 shares during the period. Capital Research Global Investors raised 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 valued at $1,540,665,000 after buying an additional 1,729,179 shares during the period. Finally, Capital World Investors raised its stake in Mastercard by 2.3% in the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock valued at $1,539,458,000 after buying an additional 289,488 shares during the period. Institutional investors own 75.66% of the company’s stock.
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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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