Handelsbanken Fonder AB cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 300,372 shares of the credit services provider’s stock after selling 41,875 shares during the quarter. Handelsbanken Fonder AB’s holdings in PayPal were worth $12,970,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Maia Wealth LLC grew its stake in PayPal by 2.5% in the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock worth $424,000 after purchasing an additional 155 shares in the last quarter. GeoWealth Management LLC raised its position in PayPal by 6.2% during the 3rd quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock valued at $216,000 after purchasing an additional 188 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of PayPal by 0.8% in the 1st quarter. Formidable Asset Management LLC now owns 25,937 shares of the credit services provider’s stock worth $1,173,000 after buying an additional 205 shares during the period. KPP Advisory Services LLC lifted its holdings in shares of PayPal by 3.3% in the 1st quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock worth $300,000 after buying an additional 214 shares during the period. Finally, Jackson Thornton Wealth Management LLC grew its position in shares of PayPal by 3.5% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 7,110 shares of the credit services provider’s stock worth $322,000 after buying an additional 238 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.
Insiders Place Their Bets
In other PayPal news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction on Wednesday, July 29th. The shares were 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 of the company’s stock, valued at approximately $128,749.60. The trade was a 37.63% decrease in their ownership of the stock. The transaction 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 Suzan Kereere sold 3,379 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the transaction, the insider directly owned 30,983 shares in the company, valued at approximately $1,325,762.57. The trade was a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,612 shares of company stock valued at $484,534. 0.63% of the stock is currently owned by insiders.
PayPal Price Performance
PayPal (NASDAQ:PYPL – Get Free Report) last announced its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Research analysts predict that PayPal Holdings, Inc. will post 5.37 earnings per share for the current fiscal year.
PayPal Announces Dividend
The company also recently announced 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 (DPR) is 10.59%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on PYPL shares. Barclays raised their price target on PayPal from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PayPal in a report on Wednesday, August 5th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Wednesday, July 15th. Clear Str raised shares of PayPal to a “hold” rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets initiated coverage on shares of PayPal in a research note on Tuesday, April 21st. They set a “market perform” rating and a $52.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.72.
View Our Latest Stock Report on PayPal
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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