Mmbg Investment Advisors CO. Acquires New Position in PayPal Holdings, Inc. $PYPL

Mmbg Investment Advisors CO. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,202 shares of the credit services provider’s stock, valued at approximately $354,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PayPal by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after acquiring an additional 5,534,462 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of PayPal in the second quarter valued at $3,236,989,000. Bank of America Corp DE boosted its holdings in PayPal by 67.9% in the first quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock valued at $1,158,554,000 after purchasing an additional 10,356,256 shares during the period. Norges Bank acquired a new position in PayPal during the 4th quarter worth $949,758,000. Finally, Amundi grew its stake in PayPal by 227.6% during the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after purchasing an additional 9,590,488 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of analyst reports. Bank of America reduced their price target on PayPal from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their target price on shares of PayPal from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Telsey Advisory Group cut shares of PayPal to a “market perform” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PayPal in a research note on Wednesday, August 5th. Finally, HSBC assumed coverage on shares of PayPal in a report on Friday, July 24th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, PayPal has an average rating of “Hold” and an average price target of $56.28.

Check Out Our Latest Stock Analysis on PayPal

Key Stories Impacting PayPal

Here are the key news stories impacting PayPal this week:

  • Positive Sentiment: PayPal and Venmo are expanding into higher-education tuition payments through integrations with Illumia, Nelnet Campus Commerce and TouchNet. The services are already available at schools including Michigan State, Kansas State, Texas Tech, Butler and Bellarmine, potentially increasing transaction volume and everyday use of PayPal’s wallets. PayPal and Venmo Expand to Tuition Payments
  • Positive Sentiment: Reports that Stripe and Advent International have renewed interest in a potential PayPal transaction are supporting the shares by reinforcing takeover speculation. However, no deal has been announced, so this remains a potential catalyst rather than a confirmed development. PayPal Buyout Talks Resurface
  • Positive Sentiment: Piper Sandler raised its price target to $59 while maintaining a Neutral rating, indicating greater recognition of potential value beyond PayPal’s checkout business. Piper Sandler Raises PayPal Price Target

PayPal Stock Performance

Shares of PayPal stock opened at $61.25 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The firm’s 50 day moving average is $51.31 and its two-hundred day moving average is $47.35. The firm has a market capitalization of $52.40 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.47 and a beta of 1.30.

PayPal (NASDAQ:PYPLGet Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the firm earned $1.40 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts forecast that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.

PayPal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal’s dividend payout ratio is currently 10.59%.

Insiders Place Their Bets

In related news, insider Frank Keller sold 4,612 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the sale, the insider directly owned 41,567 shares of the company’s stock, valued at $1,768,260.18. This represents a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 PayPal stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $77,679.70. Following the transaction, the chief accounting officer directly owned 2,216 shares in the company, valued at approximately $128,749.60. This trade represents a 37.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,774 shares of company stock valued at $738,249. 0.63% of the stock is currently owned by insiders.

PayPal Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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