Cibc World Market Inc. Takes Position in PayPal Holdings, Inc. $PYPL

Key Points

• Cibc World Market Inc. purchased 149,977 PayPal shares in the second quarter, valued at approximately $6.5 million. Institutional investors now own 68.32% of the company.
• PayPal reported quarterly EPS of $1.38, exceeding estimates by $0.10, while revenue reached $8.68 billion, up 4.8% year over year. The company also declared a quarterly dividend of $0.14 per share, representing a 0.9% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $56.28, below the reported share price of $62.27. Insiders have sold 14,774 shares worth approximately $738,249 over the past three months.

Cibc World Market Inc. purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 149,977 shares of the credit services provider's stock, valued at approximately $6,476,000.

A number of other hedge funds have also bought and sold shares of PYPL. Bard Associates Inc. bought a new position in PayPal in the 4th quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in PayPal in the 2nd 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 boosted its position in 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 worth $27,000 after purchasing an additional 457 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of PayPal in the second quarter worth about $27,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Up 1.0%

Shares of PYPL stock opened at $62.27 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.21. The company has a market capitalization of $53.27 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The business's fifty day moving average is $52.88 and its 200 day moving average is $47.77.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analysts' expectations of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.

PayPal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal's payout ratio is presently 10.59%.

Insider Buying and Selling

In related news, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total value of $253,715.52. Following the transaction, the insider directly owned 30,983 shares in the company, valued at approximately $1,888,723.68. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,774 shares of company stock worth $738,249. Insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

PYPL has been the topic of several research reports. Robert W. Baird boosted their price target on shares of PayPal from $50.00 to $57.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. BTIG Research reiterated a "neutral" rating on shares of PayPal in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on PayPal from $46.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. UBS Group set a $45.00 price target on PayPal in a report on Wednesday, July 29th. Finally, HSBC assumed coverage on PayPal in a research report on Friday, July 24th. They issued a "buy" rating for the company. Nine research 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $56.28.

PayPal Company Profile

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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