Sanford C. Bernstein Reiterates Buy Rating for Mastercard Incorporated (MA)

Mastercard Incorporated (NYSE:MA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a research note issued on Monday. They currently have a $166.00 price objective on the credit services provider’s stock, up from their prior price objective of $145.00. Sanford C. Bernstein’s target price suggests a potential upside of 11.58% from the stock’s current price. The analysts noted that the move was a valuation call.

MA has been the subject of several other reports. Wedbush reaffirmed a “buy” rating and issued a $140.00 price target (up from $129.00) on shares of Mastercard in a research note on Wednesday, September 6th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $158.00 price target (up from $149.00) on shares of Mastercard in a research note on Friday, September 8th. Barclays PLC lifted their price objective on shares of Mastercard from $142.00 to $148.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Citigroup Inc. lifted their price objective on shares of Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Instinet reiterated a “buy” rating and set a $163.00 price objective (up from $153.00) on shares of Mastercard in a report on Saturday, September 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $153.01.

Mastercard (NYSE MA) opened at 148.77 on Monday. The company has a 50-day moving average of $143.83 and a 200-day moving average of $129.54. Mastercard has a 52 week low of $99.51 and a 52 week high of $152.00. The firm has a market capitalization of $158.42 billion, a price-to-earnings ratio of 36.92 and a beta of 1.18.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts forecast that Mastercard will post $4.44 earnings per share for the current fiscal year.

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In other news, major shareholder Foundation Mastercard sold 87,623 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $129.34, for a total value of $11,333,158.82. Following the sale, the insider now owns 112,240,179 shares of the company’s stock, valued at $14,517,144,751.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the sale, the director now directly owns 45,278 shares in the company, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,035 shares of company stock worth $22,502,109. Insiders own 0.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Mastercard by 2.3% in the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after purchasing an additional 1,490,267 shares during the period. State Street Corp raised its position in shares of Mastercard by 0.4% in the first quarter. State Street Corp now owns 37,454,824 shares of the credit services provider’s stock valued at $4,212,546,000 after purchasing an additional 140,515 shares during the period. Janus Henderson Group PLC raised its position in shares of Mastercard by 784.3% in the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after purchasing an additional 14,962,583 shares during the period. Capital Research Global Investors raised its position in shares of Mastercard by 15.8% in the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after purchasing an additional 1,729,179 shares during the period. Finally, Capital World Investors raised its position in shares of Mastercard by 2.3% in the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock valued at $1,539,458,000 after purchasing an additional 289,488 shares during the period. 76.09% of the stock is currently owned by institutional investors.

Mastercard Company Profile

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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