Mediolanum International Funds Ltd trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,185 shares of the credit services provider’s stock after selling 12,634 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PayPal were worth $7,557,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of PayPal by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock valued at $5,276,205,000 after acquiring an additional 5,534,462 shares during the last quarter. Norges Bank acquired a new stake in PayPal in the 4th quarter worth approximately $949,758,000. Invesco Ltd. lifted its holdings in PayPal by 9.7% in the 4th quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider’s stock worth $713,158,000 after purchasing an additional 1,083,843 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in PayPal by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,803,241 shares of the credit services provider’s stock worth $513,966,000 after purchasing an additional 625,705 shares during the period. Finally, Amundi boosted its position in PayPal by 1.6% during the third quarter. Amundi now owns 8,493,311 shares of the credit services provider’s stock worth $605,488,000 after purchasing an additional 132,837 shares during the period. 68.32% of the stock is currently owned by institutional investors.
More PayPal News
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: Takeover chatter is the main catalyst, as reports say Stripe and Advent have put forward a multi-billion-dollar bid that could force a higher valuation for PayPal. Reuters: How PayPal went from Wall Street favorite to unwilling merger target
- Positive Sentiment: Several commentators argue the offer may set a floor for PayPal’s value, which can support the stock if investors expect a better deal or competing interest. The Motley Fool: PayPal: Is Being Bought Out What’s Best for the Company Right Now?
- Positive Sentiment: Analyst upgrades from Barclays and Clear Street add another supportive angle, suggesting some on Wall Street see improving upside despite the company’s challenges. American Banking News: PayPal (NASDAQ:PYPL) Upgraded at Barclays
- Neutral Sentiment: PayPal remains a heavily watched stock, but the “trending” coverage itself does not change fundamentals and may just reflect investor speculation ahead of earnings. Yahoo Finance: PayPal Holdings, Inc. (PYPL) Is a Trending Stock
- Neutral Sentiment: Near-term earnings expectations are mixed, with Wall Street expecting a single-digit EPS decline next quarter, which keeps attention on fundamentals rather than just takeover headlines. Barchart: What to Expect From PayPal’s Next Quarterly Earnings Report
- Negative Sentiment: Longer-term articles highlight that PayPal has fallen from favor, faces stronger competition from Apple Pay, and is now being viewed as a takeover target rather than a market leader. Reuters: How PayPal went from Wall Street favorite to unwilling merger target
PayPal Stock Performance
PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The firm had revenue of $8.35 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that PayPal Holdings, Inc. will post 5.32 EPS for the current year.
PayPal Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. PayPal’s dividend payout ratio is presently 10.51%.
Insider Transactions at PayPal
In other 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 sale, the insider owned 41,567 shares in the company, valued at approximately $2,076,687.32. The trade was a 20.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total transaction of $144,587.41. Following the transaction, the insider directly owned 30,983 shares of the company’s stock, valued at $1,325,762.57. This represents a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,612 shares of company stock valued at $966,623. Corporate insiders own 0.63% of the company’s stock.
Analyst Ratings Changes
PYPL has been the topic of a number of recent analyst reports. Clear Str raised shares of PayPal to a “hold” rating in a research report on Thursday, July 16th. The Goldman Sachs Group upped their price objective on shares of PayPal from $41.00 to $48.00 and gave the stock a “sell” rating in a report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PayPal in a research note on Friday, May 8th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a report on Wednesday, July 15th. Finally, Canaccord Genuity Group boosted their target price on shares of PayPal from $42.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Hold” and a consensus price target of $54.61.
Get Our Latest Analysis on PYPL
About PayPal
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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