Alpha Omega Wealth Management LLC Sells 5,289 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Alpha Omega Wealth Management LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,303 shares of the credit services provider’s stock after selling 5,289 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in PayPal were worth $1,586,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC acquired a new position in shares of PayPal in the 4th quarter valued at about $25,000. Hurley Capital LLC purchased a new position in PayPal during the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new position in PayPal in the fourth quarter valued at approximately $34,000. Pinney & Scofield Inc. purchased a new stake in PayPal in the 4th quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $38,000. Institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Diego Scotti sold 3,839 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the sale, the executive vice president now owns 16,989 shares of the company’s stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the sale, the insider now directly owns 48,483 shares of the company’s stock, valued at $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Compass Point initiated coverage on PayPal in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $56.00 price target for the company. Macquarie cut their price objective on PayPal from $117.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Seaport Res Ptn downgraded PayPal from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Hold” and a consensus target price of $83.29.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $74.76 on Wednesday. The stock’s fifty day simple moving average is $67.23 and its 200 day simple moving average is $76.03. The stock has a market capitalization of $72.71 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.27 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.