Bank of America Downgrades Mastercard (NYSE:MA) to Neutral

Mastercard (NYSE:MA – Get Free Report) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday, FinViz reports. They currently have a price target for shares of the credit services provider of $480.00, down from their previous price target of $505.00. Bank of America’s price target indicates a potential upside of 7.93% from the company’s current price.

MA was the subject of several other reports. Evercore ISI lowered their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25. Piper Sandler covered Mastercard in a research report on Monday, May 13. They set an “overweight” rating and a $531.00 price target for the company. Morgan Stanley lowered their price objective for Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research note on Thursday, May 2. JPMorgan Chase & Co. lowered their price objective on shares of Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2. Finally, TD Cowen initiated coverage on shares of Mastercard in a research report on Thursday, April 11. They have issued a “buy” rating and a $545.00 price target for the company. Three analysts have rated the stock as a “hold,” twenty-three have given it a buy rating, and one has given the company a strong buy rating. The company currently has an average rating of “Moderate Buy” and an average price target of $498.57, according to data from MarketBeat.

See our latest analysis of stocks on MA

Mastercard Price Performance

Shares of NYSE MA opened at $444.74 on Wednesday. Mastercard has a one-year low of $359.77 and a one-year high of $490.00. The company has a market capitalization of $413.43 billion, a P/E ratio of 35.35, a P/E ratio of 1.74 and a beta of 1.09. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.09 and a current ratio of 1.09. The company has a fifty day average price of $449.59 and a two-hundred day average price of $454.47.

Mastercard (NYSE:MA – Get Free Report) last released its quarterly earnings data on Wednesday, May 1. The credit services provider reported $3.31 earnings per share for the quarter, topping analysts’ consensus of $3.22 by $0.09. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The company’s revenue for the quarter increased by 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 per share. Research analysts, on average, expect Mastercard to post earnings of 14.26 per share for the current year.

Buying and selling inside information at Mastercard

In other news, a major shareholder in Foundation Mastercard sold 151,000 shares of Mastercard stock in a transaction that occurred on Wednesday, May 8. The shares were sold at an average price of $452.55, for a total value of $68,335,050.00. Following the transaction, the insider now directly owns 95,930,308 shares of the company’s stock, valued at $43,413,260,885.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . In related news, insider Hai Ling sold 2,892 shares of the stock in a transaction dated Thursday, May 16. The shares were sold at an average price of $460.00, for a total value of $1,330,320.00. Following the completion of the sale, the insider now directly owns 21,420 shares of the company’s stock, valued at approximately $9,853,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink . Additionally, the top shareholder of Foundation Mastercard sold 151,000 shares of Mastercard stock in a transaction dated Wednesday, May 8. The shares were sold at an average price of $452.55, for a total of $68,335,050.00. Following the transaction, the insider now directly owns 95,930,308 shares of the company’s stock, valued at approximately $43,413,260,885.40. Disclosure of this sale can be found here . Over the last ninety days, insiders have sold 3,163,228 shares of the company’s stock, valued at $1,428,540,870. 0.10% of the shares are currently owned by corporate insiders.

Mastercard Institutional Trading

Institutional investors recently changed their positions in stocks. Norges Bank acquired a new position in shares of Mastercard in Q4 valued at $4,595,559,000. International Assets Investment Management LLC increased its holdings in Mastercard by 43,445.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,936,684 shares of the credit services provider’s stock valued at $1,252,525,000 after purchasing an additional 2,929,940 shares in the last quarter. Swedbank AB acquired a new position in Mastercard in Q1 valued at approximately $660,652,000. Vanguard Group Inc. increased its holdings in shares of Mastercard by 1.0% in Q4. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after purchasing an additional 742,076 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after purchasing an additional 676,452 shares during the last quarter. 97.28% of the shares are currently owned by institutional investors and hedge funds.

About Mastercard

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Mastercard Incorporated, a technology company, provides transaction processing and other payment products and services in the United States and internationally. The company offers integrated, value-added products and services to account holders, merchants, financial institutions, digital partners, businesses, governments and other organizations, such as programs that enable issuers to extend credit to consumers to defer payments; payment products and solutions that enable consumers to access funds in deposit and other accounts; prepaid program services; and commercial credit, debit and prepaid products and solutions.

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