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CIBC Asset Management Inc Purchases 90,664 Shares of PayPal Holdings, Inc. $PYPL

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CIBC Asset Management Inc boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,230 shares of the credit services provider's stock after buying an additional 90,664 shares during the quarter. CIBC Asset Management Inc's holdings in PayPal were worth $22,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal during the 4th quarter valued at $248,000. Sivia Capital Partners LLC raised its position in PayPal by 41.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider's stock worth $332,000 after purchasing an additional 1,310 shares during the period. United Bank raised its position in PayPal by 40.1% in the 2nd quarter. United Bank now owns 17,388 shares of the credit services provider's stock worth $1,292,000 after purchasing an additional 4,974 shares during the period. Finally, Federated Hermes Inc. lifted its stake in PayPal by 17.9% in the second quarter. Federated Hermes Inc. now owns 18,909 shares of the credit services provider's stock worth $1,405,000 after purchasing an additional 2,865 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

PayPal Stock Performance

PayPal stock opened at $42.75 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $37.71 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.07 and a beta of 1.34. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.50. The firm has a 50-day moving average of $46.27 and a 200-day moving average of $50.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The business had revenue of $8.35 billion during the quarter, compared to analyst estimates of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.PayPal's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. PayPal's dividend payout ratio (DPR) is presently 10.51%.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on PayPal from $42.00 to $54.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Rothschild & Co Redburn lowered their target price on PayPal from $50.00 to $32.00 and set a "sell" rating for the company in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft dropped their target price on PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Wolfe Research restated a "sell" rating on shares of PayPal in a research report on Monday, February 23rd. Finally, BMO Capital Markets assumed coverage on PayPal in a research report on Tuesday, April 21st. They issued a "market perform" rating and a $52.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.85.

Read Our Latest Stock Report on PYPL

Insider Activity at PayPal

In other news, insider Frank Keller sold 4,612 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the sale, the insider directly owned 41,567 shares of the company's stock, valued at approximately $1,768,260.18. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total transaction of $66,128.02. Following the sale, the chief accounting officer directly owned 1,586 shares in the company, valued at $78,443.56. The trade was a 45.74% 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 have sold a total of 20,612 shares of company stock worth $966,623 over the last quarter. Corporate insiders own 0.63% of the company's stock.

About PayPal

(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.

Further Reading

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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