Mastercard Incorporated (NYSE:MA – Get Free Report) declared a quarterly dividend on Tuesday, February 6th, RTT News reports. Investors of record on Tuesday, April 9th will be given a dividend of 0.66 per share by the credit services provider on Thursday, May 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.57%.
Mastercard has raised its dividend payment by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Mastercard has a dividend payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mastercard to earn $16.80 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 15.7%.
Mastercard Price Performance
NYSE:MA traded up $3.74 during mid-day trading on Tuesday, reaching $460.50. 2,158,264 shares of the stock were exchanged, compared to its average volume of 2,567,667. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.06. Mastercard has a 1-year low of $340.21 and a 1-year high of $463.84. The firm has a market capitalization of $431.85 billion, a PE ratio of 38.61, a PEG ratio of 1.76 and a beta of 1.08. The business has a fifty day moving average price of $426.64 and a 200 day moving average price of $408.30.
Insider Buying and Selling
In other news, insider Craig Vosburg sold 13,542 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the completion of the transaction, the insider now directly owns 46,491 shares in the company, valued at $21,388,649.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Craig Vosburg sold 13,542 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the completion of the transaction, the insider now directly owns 46,491 shares in the company, valued at $21,388,649.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard K. Davis acquired 1,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $390.96 per share, for a total transaction of $390,960.00. Following the completion of the transaction, the director now owns 9,743 shares of the company’s stock, valued at approximately $3,809,123.28. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 156,356 shares of company stock worth $62,625,857. 0.13% of the stock is currently owned by insiders.
Institutional Trading of Mastercard
A number of large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Mastercard during the fourth quarter worth $3,308,223,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Mastercard by 111,819.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock worth $2,080,549,000 after purchasing an additional 5,977,885 shares during the last quarter. Morgan Stanley lifted its stake in shares of Mastercard by 17.7% during the fourth quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock valued at $5,509,328,000 after acquiring an additional 2,385,640 shares during the period. Barclays PLC lifted its stake in shares of Mastercard by 145.7% during the second quarter. Barclays PLC now owns 2,960,242 shares of the credit services provider’s stock valued at $1,164,263,000 after acquiring an additional 1,755,483 shares during the period. Finally, State Street Corp lifted its stake in shares of Mastercard by 3.9% during the first quarter. State Street Corp now owns 34,759,814 shares of the credit services provider’s stock valued at $12,632,032,000 after acquiring an additional 1,303,477 shares during the period. 74.94% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
MA has been the topic of a number of analyst reports. Raymond James lifted their price target on Mastercard from $452.00 to $504.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group lifted their target price on Mastercard from $433.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. BMO Capital Markets lifted their target price on Mastercard from $480.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. HSBC initiated coverage on Mastercard in a research note on Friday, October 13th. They set a “hold” rating and a $424.00 target price on the stock. Finally, Jefferies Financial Group lifted their target price on Mastercard from $425.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $471.85.
Mastercard declared that its Board of Directors has authorized a share buyback program on Tuesday, December 5th that authorizes the company to repurchase $11.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
Mastercard Company Profile
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 other payment-related products and services.
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