Schaper Benz & Wise Investment Counsel Inc. WI lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,372 shares of the credit services provider’s stock after selling 17,669 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in PayPal were worth $11,366,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. BlackRock Inc. bought a new stake in shares of PayPal in the 2nd quarter valued at $3,236,989,000. Bank of America Corp DE bought a new stake in shares of PayPal in the second quarter worth about $975,563,000. Primecap Management Co. CA acquired a new stake in shares of PayPal during the second quarter worth about $422,092,000. Corient Private Wealth LP acquired a new stake in shares of PayPal during the second quarter worth about $20,758,000. Finally, Amundi lifted its holdings in shares of PayPal by 227.6% during the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock valued at $624,364,000 after purchasing an additional 9,590,488 shares in the last quarter. 68.32% of the stock is owned by institutional investors.
Analyst Ratings Changes
PYPL has been the subject of a number of research reports. UBS Group reissued a “neutral” rating on shares of PayPal in a research note on Monday, September 28th. Piper Sandler lifted their price target on shares of PayPal from $42.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Barclays lowered their price objective on shares of PayPal from $57.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday. Susquehanna boosted their price objective on shares of PayPal from $63.00 to $67.00 and gave the company a “positive” rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada increased their target price on PayPal from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Nine analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.28.
PayPal Stock Up 0.9%
NASDAQ PYPL opened at $55.53 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.55. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.21. The company has a 50 day moving average of $56.22 and a 200-day moving average of $50.13. The company has a market cap of $47.50 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.17 and a beta of 1.27.
PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.
PayPal Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a $0.14 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. PayPal’s dividend payout ratio (DPR) is presently 10.59%.
Insider Activity at PayPal
In other PayPal news, CAO Chris Natali sold 1,337 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $77,679.70. Following the sale, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. This represents a 37.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $55.43, for a total transaction of $255,643.16. Following the completion of the transaction, the insider directly owned 41,567 shares in the company, valued at approximately $2,304,058.81. This represents a 9.99% 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. Insiders sold a total of 14,774 shares of company stock valued at $848,095 over the last quarter. 0.63% of the stock is owned by corporate insiders.
PayPal Company Profile
PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, digital wallets, and payment processing for merchants.
The company’s principal consumer brands include PayPal and Venmo, while its merchant and commerce offerings include Braintree, PayPal Zettle, and PayPal Complete Payments. PayPal also operates Xoom, a service for international money transfers, and Honey, a shopping and rewards platform.
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