Radnor Capital Management LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 66.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,916 shares of the credit services provider’s stock after selling 21,535 shares during the quarter. Radnor Capital Management LLC’s holdings in PayPal were worth $637,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in PayPal during the third quarter valued at approximately $30,000. Kelleher Financial Advisors purchased a new position in PayPal during the third quarter valued at approximately $30,000. Torren Management LLC purchased a new position in PayPal in the fourth quarter valued at $31,000. Strategic Advocates LLC purchased a new position in PayPal in the third quarter valued at $38,000. Finally, Steph & Co. increased its holdings in PayPal by 103.1% in the fourth quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock valued at $38,000 after buying an additional 333 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Down 1.2%
PYPL stock opened at $43.83 on Wednesday. The stock has a market capitalization of $38.66 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.11 and a beta of 1.39. The firm has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $52.57. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.50.
PayPal Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. PayPal’s payout ratio is currently 10.51%.
Insider Buying and Selling
In related news, CAO Chris Natali sold 1,337 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total transaction of $66,128.02. Following the completion of the sale, the chief accounting officer directly owned 1,586 shares in the company, valued at approximately $78,443.56. The trade was a 45.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 10,732 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was 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 of the company’s stock, valued at $2,076,687.32. The trade was a 20.52% decrease in their ownership of the stock. 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 ninety days, insiders sold 57,373 shares of company stock worth $2,684,341. 0.63% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
PYPL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Stephens cut their price objective on shares of PayPal from $65.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $42.00 price objective (down from $100.00) on shares of PayPal in a report on Wednesday, February 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of PayPal in a report on Monday, February 23rd. Finally, Evercore cut their price objective on PayPal from $65.00 to $40.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Eight investment analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.85.
Read 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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