Benjamin Edwards Inc. lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 444.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 43,016 shares of the credit services provider's stock after acquiring an additional 35,119 shares during the period. Benjamin Edwards Inc.'s holdings in PayPal were worth $1,857,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new position in PayPal in the 4th quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in PayPal during the second quarter valued at about $25,000. Robinswood Financial LLC purchased a new stake in PayPal during the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of PayPal by 15,233.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider's stock valued at $27,000 after buying an additional 457 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of PayPal during the second quarter valued at about $27,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other PayPal news, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total transaction 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 trade represents a 11.84% decrease in their ownership of the stock. 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 Frank Keller sold 732 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $42,529.20. Following the sale, the insider 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 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 14,774 shares of company stock worth $738,249 over the last three months. Company insiders own 0.63% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on PayPal from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. BTIG Research restated a "neutral" rating on shares of PayPal in a research report on Wednesday, July 15th. Daiwa Securities Group raised PayPal from a "hold" rating to an "outperform" rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on PayPal from $55.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, Telsey Advisory Group lowered PayPal to a "market perform" rating in a research note on Friday, July 24th. Nine research analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.03.
View Our Latest Report on PayPal
PayPal Trading Down 1.8%
NASDAQ PYPL opened at $52.67 on Tuesday. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50 day simple moving average of $54.09 and a two-hundred day simple moving average of $48.24. The stock has a market cap of $45.06 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.29.
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, beating 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 company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the company earned $1.40 earnings per share. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.
PayPal Announces Dividend
The business 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. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th. PayPal's dividend payout ratio is presently 10.59%.
PayPal Profile
(
Free Report)
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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