UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,593,196 shares of the credit services provider's stock after purchasing an additional 128,426 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of PayPal worth $284,694,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in PayPal during the second quarter worth $3,236,989,000. Bank of America Corp DE grew its position in shares of PayPal by 67.9% in the 1st quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider's stock valued at $1,158,554,000 after acquiring an additional 10,356,256 shares during the period. Norges Bank bought a new position in shares of PayPal in the 4th quarter valued at about $949,758,000. Amundi increased its stake in shares of PayPal by 227.6% during the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider's stock worth $624,364,000 after purchasing an additional 9,590,488 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of PayPal by 9.7% during the 4th quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider's stock worth $713,158,000 after purchasing an additional 1,083,843 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. William Blair reiterated a "market perform" rating on shares of PayPal in a research note on Wednesday, July 15th. Piper Sandler boosted their price target on PayPal from $42.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Daiwa Securities Group upgraded PayPal from a "hold" rating to an "outperform" rating in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded PayPal from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 24th. Nine analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of "Hold" and an average price target of $56.03.
Read Our Latest Research Report on PYPL
Insider Transactions at PayPal
In related news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total transaction of $253,715.52. Following the completion of the sale, the insider directly owned 30,983 shares of the company's stock, valued at approximately $1,888,723.68. This trade represents a 11.84% 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, insider Frank Keller sold 4,612 shares of the business's stock in a transaction on 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 owned 41,567 shares of the company's stock, valued at $1,768,260.18. This trade 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. Over the last quarter, insiders have sold 14,774 shares of company stock worth $738,249. Company insiders own 0.63% of the company's stock.
PayPal Stock Performance
Shares of PYPL stock opened at $52.67 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 market capitalization of $45.06 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.31 and a beta of 1.29. The company has a 50-day simple moving average of $54.09 and a 200 day simple moving average of $48.24. 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 (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. The firm had revenue of $8.68 billion for 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 business's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.
PayPal Dividend Announcement
The company 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 is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. PayPal's dividend payout ratio (DPR) is 10.59%.
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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