Handelsbanken Fonder AB Sells 41,875 Shares of PayPal Holdings, Inc. $PYPL

Key Points

• Handelsbanken Fonder AB cut its PayPal stake by 12.2% in the second quarter, selling 41,875 shares and retaining 300,372 shares valued at approximately $12.97 million.
• PayPal reported quarterly earnings of $1.38 per share and revenue of $8.68 billion, exceeding analyst expectations; shares were trading at $60.59, up 2.3%.
• PayPal declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 payout and a 0.9% yield, while analysts maintained a consensus “Hold” rating with a $55.72 price target.

Handelsbanken Fonder AB lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,372 shares of the credit services provider's stock after selling 41,875 shares during the period. Handelsbanken Fonder AB's holdings in PayPal were worth $12,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PYPL. Vanguard Group Inc. boosted its stake in PayPal by 6.5% during 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 buying an additional 5,534,462 shares during the last quarter. Rule One Partners LLC bought a new stake in PayPal in the 4th quarter worth approximately $2,043,000. Swiss National Bank raised its holdings in shares of PayPal by 4.9% during the 1st quarter. Swiss National Bank now owns 2,608,600 shares of the credit services provider's stock worth $117,987,000 after acquiring an additional 121,400 shares in the last quarter. Easterly Investment Partners LLC raised its holdings in shares of PayPal by 705.2% during the 4th quarter. Easterly Investment Partners LLC now owns 100,651 shares of the credit services provider's stock worth $5,876,000 after acquiring an additional 88,151 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of PayPal by 76.0% during the 1st quarter. International Assets Investment Management LLC now owns 54,458 shares of the credit services provider's stock valued at $2,430,000 after acquiring an additional 23,516 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Trading Up 2.3%

Shares of PYPL opened at $60.59 on Friday. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.21. The company has a market cap of $51.83 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.45 and a beta of 1.30. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.55. The company's fifty day simple moving average is $49.72 and its 200-day simple moving average is $47.18.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly 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 firm had revenue of $8.68 billion during the quarter, compared to analysts' expectations of $8.47 billion. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 5.37 EPS for the current year.

PayPal Announces Dividend

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

Analysts Set New Price Targets

PYPL has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of PayPal from $55.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Morgan Stanley set a $45.00 price objective on shares of PayPal in a research report on Wednesday, July 29th. Robert W. Baird lifted their price objective on shares of PayPal from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Piper Sandler decreased their target price on shares of PayPal from $46.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Finally, Truist Financial set a $59.00 price target on shares of PayPal in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $55.72.

Insider Activity

In related news, insider Frank Keller sold 4,612 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total transaction of $196,194.48. Following the completion of the transaction, the insider owned 41,567 shares in the company, valued at $1,768,260.18. The trade was a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company's 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 completion of the transaction, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. This trade represents a 37.63% decrease in their position. 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 90 days, insiders have sold 10,612 shares of company stock valued at $484,534. 0.63% of the stock is currently owned by insiders.

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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