Mastercard (NYSE:MA) Given New $305.00 Price Target at Wells Fargo & Co
Mastercard (NYSE:MA) had its price target raised by Wells Fargo & Co from $285.00 to $305.00 in a report released on Wednesday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the credit services provider’s stock.
Other equities analysts have also recently issued reports about the company. Raymond James set a $33.00 price objective on LKQ and gave the company a buy rating in a report on Friday, April 26th. Bank of America raised their price objective on Visa from $177.00 to $192.00 and gave the company a buy rating in a report on Monday, June 17th. Oppenheimer set a $119.00 price objective on American Express and gave the company a buy rating in a report on Wednesday, April 17th. Barclays raised their price target on WEX from $222.00 to $238.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Finally, Deutsche Bank started coverage on Intuitive Surgical in a research report on Monday, April 1st. They set a buy rating and a $630.00 price target on the stock. Two analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $258.96.
Shares of NYSE MA opened at $279.54 on Wednesday. The stock has a market cap of $285.56 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.07. The company has a current ratio of 1.40, a quick ratio of 1.41 and a debt-to-equity ratio of 1.12. Mastercard has a 1-year low of $171.89 and a 1-year high of $279.74. The firm’s 50-day moving average price is $262.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.47%. Mastercard’s dividend payout ratio is currently 20.34%.
In related news, CEO Ajay Banga sold 252,600 shares of Mastercard stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $250.92, for a total transaction of $63,382,392.00. Following the sale, the chief executive officer now directly owns 427,638 shares in the company, valued at $107,302,926.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Miebach sold 2,711 shares of Mastercard stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $245.00, for a total value of $664,195.00. Following the sale, the insider now owns 20,492 shares in the company, valued at $5,020,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,221 shares of company stock worth $92,047,063. Corporate insiders own 0.32% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Evolution Wealth Advisors LLC bought a new stake in shares of Mastercard in the second quarter worth $31,000. Valley National Advisers Inc. grew its holdings in shares of Mastercard by 210.9% in the fourth quarter. Valley National Advisers Inc. now owns 143 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 97 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Mastercard in the fourth quarter worth $30,000. Field & Main Bank bought a new stake in shares of Mastercard in the first quarter worth $38,000. Finally, Motco grew its holdings in shares of Mastercard by 40.9% in the fourth quarter. Motco now owns 186 shares of the credit services provider’s stock worth $35,000 after acquiring an additional 54 shares during the period. 74.32% of the stock is owned by institutional investors.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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