Mastercard Incorporated (MA) Sets New 52-Week High at $137.27
Shares of Mastercard Incorporated (NYSE:MA) hit a new 52-week high on Thursday . The stock traded as high as $137.27 and last traded at $137.19, with a volume of 3,241,857 shares. The stock had previously closed at $132.89.
Several brokerages recently weighed in on MA. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Citigroup Inc. boosted their price objective on shares of Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Vetr cut shares of Mastercard from a “hold” rating to a “sell” rating and set a $115.30 price objective on the stock. in a research note on Monday, May 22nd. BMO Capital Markets boosted their price objective on shares of Mastercard from $126.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $125.00 price objective on shares of Mastercard in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $128.70.
The firm has a 50 day moving average price of $130.91 and a 200-day moving average price of $120.68. The firm has a market cap of $146.02 billion, a P/E ratio of 34.02 and a beta of 1.18.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities research analysts expect that Mastercard Incorporated will post $4.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.66%. Mastercard’s dividend payout ratio (DPR) is presently 21.78%.
In other news, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 87,623 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.34, for a total value of $11,333,158.82. Following the transaction, the insider now directly owns 112,240,179 shares of the company’s stock, valued at $14,517,144,751.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 850,468 shares of company stock valued at $109,574,694. Corporate insiders own 0.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of Mastercard during the first quarter worth about $100,000. Lipe & Dalton acquired a new position in shares of Mastercard during the first quarter worth about $101,000. Chicago Partners Investment Group LLC grew its position in shares of Mastercard by 1,365.6% during the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after buying an additional 874 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Mastercard by 170.1% during the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after buying an additional 546 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Mastercard by 108.2% during the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after buying an additional 464 shares in the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.
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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