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Valley Wealth Managers Inc. Sells 29,617 Shares of PayPal Holdings, Inc. $PYPL

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Key Points

  • Valley Wealth Managers cut its PayPal stake by 12.9% in the fourth quarter, selling 29,617 shares and ending with 199,658 shares valued at about $11.66 million.
  • Several other institutional investors also adjusted their PayPal positions, and overall institutions own 68.32% of the company’s stock.
  • Analysts remain cautious on PayPal, with an average rating of “Hold” and a consensus price target of $56.42; meanwhile, the company recently reported earnings that beat EPS and revenue expectations and announced a quarterly dividend of $0.14 per share.
  • MarketBeat previews the top five stocks to own by June 1st.

Valley Wealth Managers Inc. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,658 shares of the credit services provider's stock after selling 29,617 shares during the period. Valley Wealth Managers Inc.'s holdings in PayPal were worth $11,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PYPL. Meridian Wealth Management LLC grew its holdings in PayPal by 12.2% during the fourth quarter. Meridian Wealth Management LLC now owns 12,445 shares of the credit services provider's stock valued at $727,000 after purchasing an additional 1,351 shares during the period. Money Concepts Capital Corp raised its holdings in PayPal by 564.8% in the fourth quarter. Money Concepts Capital Corp now owns 31,173 shares of the credit services provider's stock worth $1,820,000 after purchasing an additional 26,484 shares during the period. First National Advisers LLC bought a new position in shares of PayPal during the fourth quarter worth $492,000. Lafayette Investments Inc. boosted its position in shares of PayPal by 2.1% during the fourth quarter. Lafayette Investments Inc. now owns 64,588 shares of the credit services provider's stock worth $3,771,000 after purchasing an additional 1,310 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs grew its holdings in shares of PayPal by 6.2% in the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 38,615 shares of the credit services provider's stock valued at $2,254,000 after buying an additional 2,269 shares during the period. Institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Mizuho restated a "neutral" rating and issued a $50.00 price objective (down from $60.00) on shares of PayPal in a research report on Thursday, April 16th. Wall Street Zen lowered PayPal from a "buy" rating to a "hold" rating in a report on Sunday, January 18th. Canaccord Genuity Group reissued a "hold" rating and issued a $42.00 target price (down from $100.00) on shares of PayPal in a research note on Wednesday, February 4th. Zacks Research upgraded PayPal from a "strong sell" rating to a "hold" rating in a report on Friday, April 17th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of PayPal in a report on Monday, February 23rd. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $56.42.

Get Our Latest Stock Analysis on PYPL

Insider Activity at PayPal

In other news, CAO Chris Natali sold 2,208 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $44.73, for a total transaction of $98,763.84. Following the completion of the transaction, the chief accounting officer directly owned 1,140 shares in the company, valued at $50,992.20. This represents a 65.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Suzan Kereere sold 37,613 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $41.49, for a total value of $1,560,563.37. Following the completion of the transaction, the insider owned 30,983 shares of the company's stock, valued at $1,285,484.67. The trade was a 54.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 96,199 shares of company stock valued at $4,294,018. Corporate insiders own 0.63% of the company's stock.

Key PayPal News

Here are the key news stories impacting PayPal this week:

PayPal Stock Down 0.7%

NASDAQ:PYPL opened at $45.07 on Tuesday. The stock has a 50-day simple moving average of $46.71 and a 200 day simple moving average of $53.65. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50. The company has a market cap of $39.76 billion, a PE ratio of 8.46, a PEG ratio of 1.13 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL - Get Free Report) last released its 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 firm had revenue of $8.35 billion for the quarter, compared to analysts' expectations of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.32 EPS for the current fiscal year.

PayPal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. PayPal's dividend payout ratio (DPR) is 10.51%.

PayPal Company 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.

See Also

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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.

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