Daiichi Life Insurance Co. Ltd. purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,382 shares of the credit services provider’s stock, valued at approximately $1,096,000.
A number of other institutional investors also recently made changes to their positions in PYPL. Vanguard Group Inc. raised its stake in PayPal by 6.5% in 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 purchasing an additional 5,534,462 shares during the last quarter. Rule One Partners LLC purchased a new stake in shares of PayPal during the fourth quarter worth about $2,043,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of PayPal in the second quarter valued at approximately $97,372,000. S&CO Inc. purchased a new position in shares of PayPal during the second quarter valued at approximately $18,827,000. Finally, Swiss National Bank boosted its position in PayPal by 4.9% during the first quarter. Swiss National Bank now owns 2,608,600 shares of the credit services provider’s stock worth $117,987,000 after acquiring an additional 121,400 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.
PayPal Trading Up 0.2%
Shares of PYPL stock opened at $61.68 on Tuesday. 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 fifty-two week low of $38.46 and a fifty-two week high of $79.21. The firm’s 50 day moving average price is $52.51 and its two-hundred day moving average price is $47.62. The stock has a market cap of $52.76 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29.
PayPal Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal’s dividend payout ratio is presently 10.59%.
Analyst Ratings Changes
Several research analysts have weighed in on the company. UBS Group set a $45.00 price target on PayPal in a report on Wednesday, July 29th. Telsey Advisory Group cut PayPal to a “market perform” rating in a report on Friday, July 24th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Tuesday, May 5th. BNP Paribas Exane upped their price target on shares of PayPal from $43.50 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on shares of PayPal from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.28.
Get Our Latest Research Report on PayPal
Insider Activity
In related news, insider Frank Keller sold 732 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $42,529.20. Following the sale, the insider directly owned 41,567 shares in the company, valued at approximately $2,415,042.70. This trade represents a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the completion of the transaction, the insider owned 30,983 shares of the company’s stock, valued at approximately $1,888,723.68. This represents a 11.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,774 shares of company stock worth $738,249. 0.63% of the stock is currently owned by corporate insiders.
PayPal 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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