Keybank National Association OH Has $5.39 Million Holdings in PayPal Holdings, Inc. $PYPL

Key Points

• Keybank National Association OH cut its PayPal stake by 61.3% in the first quarter, selling 188,970 shares and ending with 119,107 shares valued at about $5.39 million.
• PayPal’s latest quarterly results were stronger than expected, with EPS of $1.34 versus a $1.27 estimate and revenue of $8.35 billion versus $8.05 billion expected. Revenue rose 7.2% year over year.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” with an average price target of $55.01, while recent reports included both bullish and bearish target cuts. PayPal also pays a quarterly dividend of $0.14 per share, yielding about 1.2%.

Keybank National Association OH decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 61.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,107 shares of the credit services provider's stock after selling 188,970 shares during the quarter. Keybank National Association OH's holdings in PayPal were worth $5,387,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at $949,758,000. Vanguard Group Inc. grew its holdings in shares of PayPal by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider's stock worth $5,276,205,000 after purchasing an additional 5,534,462 shares during the last quarter. SG Americas Securities LLC increased its position in shares of PayPal by 355.1% during the 1st quarter. SG Americas Securities LLC now owns 4,967,170 shares of the credit services provider's stock worth $224,665,000 after purchasing an additional 3,875,688 shares in the last quarter. AQR Capital Management LLC lifted its holdings in PayPal by 143.4% during the 4th quarter. AQR Capital Management LLC now owns 5,089,586 shares of the credit services provider's stock valued at $297,130,000 after purchasing an additional 2,998,286 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in PayPal by 261.5% during the 4th quarter. Voloridge Investment Management LLC now owns 2,291,213 shares of the credit services provider's stock valued at $133,761,000 after purchasing an additional 1,657,458 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $45.47 on Friday. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.50. The company has a 50-day moving average of $44.49 and a two-hundred day moving average of $48.00. The company has a market cap of $40.11 billion, a PE ratio of 8.53, a P/E/G ratio of 1.13 and a beta of 1.33. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.

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 the consensus estimate of $1.27 by $0.07. The business had revenue of $8.35 billion for the quarter, compared to analysts' expectations of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. PayPal's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts expect that PayPal Holdings, Inc. will post 5.32 earnings per share for the current fiscal year.

PayPal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, June 4th. PayPal's dividend payout ratio (DPR) is 10.51%.

Analyst Ratings Changes

PYPL has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of PayPal from $40.00 to $41.00 and gave the stock a "sell" rating in a research note on Monday, June 29th. Canaccord Genuity Group reiterated a "hold" rating and issued a $42.00 target price on shares of PayPal in a research note on Wednesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $59.00 target price on shares of PayPal in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft decreased their price target on PayPal from $50.00 to $45.00 in a research report on Monday, May 11th. Finally, Truist Financial dropped their price target on PayPal from $45.00 to $44.00 and set a "sell" rating for the company in a report on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, PayPal has an average rating of "Hold" and an average price target of $55.01.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: PayPal joined the European Payments Council, a move that could strengthen its role in shaping European payment rules and support long-term growth in the region. PayPal Stock (PYPL) Pops 3% on Joining EU Payments Council
• Positive Sentiment: Additional coverage highlighted PayPal’s EPC membership as a strategic step toward influencing the future of European payments and instant-transfer infrastructure. PayPal Secures EPC Seat to Help Guide Future of European Payments
• Neutral Sentiment: Unusual options activity included cheap out-of-the-money July 10 calls in PYPL, suggesting speculative trading interest rather than a clear fundamental catalyst. Five July 4th Fireworks: Unusual Options Activity Flags Cheap Lottery-Ticket Calls in CHWY, AVGO, PYPL, STLA and WMT
• Neutral Sentiment: A shareholder litigation firm said it is investigating PayPal’s officers and directors for possible fiduciary-duty issues, but this is only an early-stage legal probe and not a formal case. Kuehn Law Encourages Investors of PayPal Holdings, Inc. to Contact Law Firm

Insider Transactions at PayPal

In related news, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the completion of the sale, the insider directly owned 30,983 shares in the company, valued at $1,325,762.57. This trade represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total value of $196,194.48. Following the sale, the insider directly owned 41,567 shares of the company's stock, valued at $1,768,260.18. This represents a 9.99% 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. Insiders sold a total of 20,612 shares of company stock worth $966,623 over the last 90 days. 0.63% of the stock is owned by insiders.

PayPal 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.

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.