Mastercard (NYSE:MA) Coverage Initiated at Evercore ISI

Evercore ISI assumed coverage on shares of Mastercard (NYSE:MA - Free Report) in a research note published on Wednesday, Marketbeat Ratings reports. The firm issued an in-line rating and a $550.00 target price on the credit services provider's stock.

Other analysts also recently issued reports about the stock. Citigroup lifted their price objective on shares of Mastercard from $584.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Mastercard from $618.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Macquarie raised their target price on Mastercard from $565.00 to $645.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Mastercard from $590.00 to $610.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Oppenheimer cut their price objective on shares of Mastercard from $591.00 to $588.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $607.96.

Mastercard Stock Performance

Shares of NYSE MA traded up $1.45 during midday trading on Wednesday, hitting $511.20. The company's stock had a trading volume of 1,469,220 shares, compared to its average volume of 2,606,340. The firm has a market cap of $466.07 billion, a P/E ratio of 36.80, a P/E/G ratio of 2.37 and a beta of 1.06. Mastercard has a 1-year low of $428.86 and a 1-year high of $582.23. The firm's fifty day moving average price is $542.81 and its 200-day moving average price is $528.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, sell-side analysts forecast that Mastercard will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.59%. The ex-dividend date is Wednesday, April 9th. Mastercard's payout ratio is 21.89%.

Mastercard announced that its board has initiated a share buyback plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the sale, the chief executive officer now owns 84,871 shares of the company's stock, valued at approximately $46,692,629.36. The trade was a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mastercard

Several institutional investors have recently made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in shares of Mastercard in the fourth quarter worth about $26,000. Marshall Investment Management LLC acquired a new position in Mastercard during the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new stake in Mastercard in the 4th quarter valued at $31,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Mastercard in the 4th quarter worth $32,000. Finally, Navigoe LLC bought a new position in shares of Mastercard during the 4th quarter worth about $33,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

About Mastercard

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.