Daiichi Life Insurance Co. Ltd. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,382 shares of the credit services provider's stock, valued at approximately $1,096,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in PayPal by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider's stock valued at $5,276,205,000 after purchasing an additional 5,534,462 shares during the period. Rule One Partners LLC acquired a new stake in shares of PayPal during the fourth quarter worth about $2,043,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of PayPal during the second quarter worth about $97,372,000. S&CO Inc. purchased a new position in shares of PayPal during the second quarter worth about $18,827,000. Finally, Swiss National Bank grew its holdings in shares of PayPal by 4.9% during the first quarter. Swiss National Bank now owns 2,608,600 shares of the credit services provider's stock worth $117,987,000 after buying an additional 121,400 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.
PayPal Price Performance
Shares of NASDAQ:PYPL opened at $61.68 on Tuesday. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The company has a 50-day moving average price of $52.51 and a 200 day moving average price of $47.62. The company has a market cap of $52.76 billion, a P/E ratio of 11.66, a PEG ratio of 1.50 and a beta of 1.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.
PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the prior year, the business posted $1.40 EPS. The company's revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts predict that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.
PayPal Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.14 per share. 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 is presently 10.59%.
Wall Street Analysts Forecast Growth
Several research firms have commented on PYPL. Citigroup upped their price objective on PayPal from $48.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Bank of America lowered their target price on PayPal from $55.00 to $53.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. TD Cowen boosted their target price on PayPal from $48.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. The Goldman Sachs Group set a $50.00 price target on PayPal in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their price target on PayPal from $55.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of "Hold" and an average target price of $56.28.
View Our Latest Stock Analysis on PayPal
Insiders Place Their Bets
In other PayPal news, CAO Chris Natali sold 1,337 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value 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. This represents a 37.63% 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, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction 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 completion of the transaction, the insider owned 30,983 shares of the company's stock, valued at approximately $1,888,723.68. This represents a 11.84% decrease in their position. 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. 0.63% of the stock is owned by company insiders.
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.
Further Reading
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