WASHINGTON TRUST Co Has $3.70 Million Stock Holdings in PayPal Holdings, Inc. $PYPL

Key Points

• WASHINGTON TRUST Co cut its PayPal stake by 63.5% in the fourth quarter, selling 110,070 shares and ending with 63,353 shares valued at about $3.7 million.
• PayPal recently reported better-than-expected quarterly results, with earnings of $1.34 per share on revenue of $8.35 billion, both topping analyst estimates.
• The company also announced a quarterly dividend of $0.14 per share, while analysts currently rate the stock a consensus “Hold” with an average price target of $55.85.

WASHINGTON TRUST Co decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 63.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,353 shares of the credit services provider's stock after selling 110,070 shares during the quarter. WASHINGTON TRUST Co's holdings in PayPal were worth $3,699,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Maia Wealth LLC increased its stake in shares of PayPal by 2.5% during the 3rd quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider's stock worth $424,000 after purchasing an additional 155 shares during the last quarter. Transatlantique Private Wealth LLC increased its stake in shares of PayPal by 2.9% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 5,698 shares of the credit services provider's stock worth $382,000 after purchasing an additional 159 shares during the last quarter. Martin & Co. Inc. TN increased its stake in shares of PayPal by 0.3% during the 3rd quarter. Martin & Co. Inc. TN now owns 56,934 shares of the credit services provider's stock worth $3,818,000 after purchasing an additional 175 shares during the last quarter. RWA Wealth Partners LLC increased its stake in shares of PayPal by 0.7% during the 3rd quarter. RWA Wealth Partners LLC now owns 25,043 shares of the credit services provider's stock worth $1,679,000 after purchasing an additional 184 shares during the last quarter. Finally, GeoWealth Management LLC increased its stake in shares of PayPal by 6.2% during the 3rd quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider's stock worth $216,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

PayPal Price Performance

Shares of PayPal stock opened at $44.75 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.50. The firm has a fifty day moving average price of $46.32 and a two-hundred day moving average price of $51.38. The company has a market cap of $39.47 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The firm had revenue of $8.35 billion during the quarter, compared to the consensus estimate of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Analysts expect that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Dividend Announcement

The company 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 dividend of $0.14 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. PayPal's dividend payout ratio (DPR) is 10.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PYPL shares. Weiss Ratings restated a "hold (c-)" rating on shares of PayPal in a research note on Friday, May 8th. The Goldman Sachs Group decreased their price objective on shares of PayPal from $41.00 to $40.00 in a report on Wednesday, May 6th. Susquehanna decreased their price objective on shares of PayPal from $90.00 to $63.00 and set a "positive" rating for the company in a report on Wednesday, February 4th. William Blair reaffirmed a "market perform" rating on shares of PayPal in a report on Tuesday, February 3rd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of PayPal in a report on Tuesday, February 24th. Eight equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.85.

Insider Buying and Selling

In related news, CAO Chris Natali sold 1,337 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total transaction of $66,128.02. Following the completion of the sale, the chief accounting officer owned 1,586 shares in the company, valued at $78,443.56. This trade represents a 45.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 13,515 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $46.02, for a total transaction of $621,960.30. Following the sale, the insider owned 30,983 shares of the company's stock, valued at $1,425,837.66. This trade represents a 30.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,373 shares of company stock worth $2,684,341 in the last quarter. 0.63% of the stock is owned by corporate 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.

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