Mastercard (NYSE:MA) Sets New 12-Month High – Here’s What Happened

Mastercard Incorporated (NYSE:MA)’s stock price reached a new 52-week high on Monday . The company traded as high as $586.39 and last traded at $583.91, with a volume of 348604 shares changing hands. The stock had previously closed at $583.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MA shares. KeyCorp boosted their target price on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their price objective on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $633.00 price target on shares of Mastercard in a report on Wednesday, April 2nd. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $606.25.

Mastercard Stock Performance

The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day simple moving average of $535.67 and a 200 day simple moving average of $535.89. The company has a market cap of $535.82 billion, a price-to-earnings ratio of 42.28, a P/E/G ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.16. The business had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.12 billion. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Mastercard’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted $3.31 earnings per share. On average, sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Insider Transactions at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sandra A. Arkell sold 150 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $569.45, for a total value of $85,417.50. Following the sale, the insider now directly owns 3,555 shares of the company’s stock, valued at $2,024,394.75. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,207 shares of company stock worth $12,664,529. Insiders own 0.10% of the company’s stock.

Institutional Trading of Mastercard

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whalerock Point Partners LLC grew its position in shares of Mastercard by 1.3% in the 4th quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider’s stock valued at $7,729,000 after purchasing an additional 185 shares during the period. Dock Street Asset Management Inc. grew its position in shares of Mastercard by 4.5% in the 4th quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock valued at $35,932,000 after purchasing an additional 2,931 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Mastercard by 1.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 71,862 shares of the credit services provider’s stock valued at $37,841,000 after purchasing an additional 1,194 shares during the period. Avestar Capital LLC grew its position in shares of Mastercard by 10.9% in the 4th quarter. Avestar Capital LLC now owns 5,612 shares of the credit services provider’s stock valued at $2,955,000 after purchasing an additional 550 shares during the period. Finally, Norges Bank acquired a new position in shares of Mastercard in the 4th quarter valued at approximately $6,022,224,000. 97.28% of the stock is owned by institutional investors.

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.