Meiji Yasuda Asset Management Co Ltd. purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 46,799 shares of the credit services provider’s stock, valued at approximately $2,021,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bard Associates Inc. acquired a new position in shares of PayPal during the 4th quarter worth about $25,000. Allied Private Wealth LLC acquired a new stake in PayPal in the 2nd quarter valued at about $25,000. Robinswood Financial LLC acquired a new stake in PayPal in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its stake in PayPal by 15,233.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 457 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in PayPal during the second quarter worth about $27,000. Institutional investors own 68.32% of the company’s stock.
Insider Activity at PayPal
In other PayPal news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 2,216 shares of the company’s stock, valued at $128,749.60. The trade was a 37.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total transaction of $253,715.52. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at $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 three months, insiders have sold 14,774 shares of company stock worth $738,249. Corporate insiders own 0.63% of the company’s stock.
PayPal Price Performance
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that PayPal Holdings, Inc. will post 5.38 EPS for the current year.
PayPal Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.14 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal’s dividend payout ratio is 10.59%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PYPL shares. Cantor Fitzgerald boosted their price target on PayPal from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their target price on PayPal from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $45.00 target price on PayPal in a report on Wednesday, July 29th. Canaccord Genuity Group restated a “hold” rating and issued a $55.00 price target on shares of PayPal in a research note on Wednesday, July 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Tuesday, May 5th. Nine investment 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 company. According to data from MarketBeat, PayPal currently has a consensus rating of “Hold” and a consensus price target of $56.28.
Check Out Our Latest Report 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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