Cary Street Partners Financial LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,821 shares of the credit services provider’s stock after selling 23,744 shares during the period. Cary Street Partners Financial LLC’s holdings in PayPal were worth $4,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Maia Wealth LLC increased its holdings in shares of PayPal by 2.5% in the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock worth $424,000 after purchasing an additional 155 shares during the period. Transatlantique Private Wealth LLC boosted its stake in PayPal by 2.9% during the third quarter. Transatlantique Private Wealth LLC now owns 5,698 shares of the credit services provider’s stock valued at $382,000 after buying an additional 159 shares during the period. Martin & Co. Inc. TN boosted its stake in PayPal by 0.3% during the third quarter. Martin & Co. Inc. TN now owns 56,934 shares of the credit services provider’s stock valued at $3,818,000 after buying an additional 175 shares during the period. RWA Wealth Partners LLC grew its position in PayPal by 0.7% during the third quarter. RWA Wealth Partners LLC now owns 25,043 shares of the credit services provider’s stock worth $1,679,000 after buying an additional 184 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in PayPal by 6.2% during the third quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock worth $216,000 after buying an additional 188 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price target on PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Zacks Research raised PayPal from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Stephens decreased their price objective on shares of PayPal from $65.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $42.00 target price on shares of PayPal in a research note on Wednesday, May 20th. Finally, Citigroup lifted their target price on shares of PayPal from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.85.
Insider Transactions at PayPal
In other PayPal news, insider Frank Keller sold 10,732 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $49.96, for a total value of $536,170.72. Following the completion of the sale, the insider directly owned 41,567 shares of the company’s stock, valued at $2,076,687.32. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total transaction of $66,128.02. Following the sale, the chief accounting officer owned 1,586 shares of the company’s stock, valued at approximately $78,443.56. The trade was a 45.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 57,373 shares of company stock worth $2,684,341. 0.63% of the stock is currently owned by insiders.
PayPal Price Performance
PYPL opened at $44.16 on Wednesday. The stock has a 50-day moving average price of $46.39 and a 200-day moving average price of $51.74. PayPal Holdings, Inc. has a 12-month low of $38.46 and a 12-month high of $79.50. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $38.95 billion, a P/E ratio of 8.29, a PEG ratio of 1.11 and a beta of 1.39.
PayPal (NASDAQ:PYPL – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.PayPal’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.33 EPS. Equities analysts predict that PayPal Holdings, Inc. will post 5.3 earnings per share for the current fiscal year.
PayPal Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 4th. PayPal’s payout ratio is presently 10.51%.
PayPal Company Profile
PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.
Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.
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