Russell Investments Group Ltd. grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 595,884 shares of the credit services provider’s stock after purchasing an additional 66,817 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of PayPal worth $44,227,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in PayPal during the 1st quarter valued at $529,264,000. Goldman Sachs Group Inc. boosted its holdings in shares of PayPal by 44.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock worth $558,499,000 after purchasing an additional 2,638,815 shares during the period. Deutsche Bank AG grew its stake in shares of PayPal by 19.1% in the first quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock worth $733,294,000 after purchasing an additional 1,798,330 shares during the last quarter. Invesco Ltd. increased its holdings in PayPal by 14.9% during the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after purchasing an additional 1,232,155 shares during the period. Finally, Jupiter Asset Management Ltd. raised its position in PayPal by 301.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,156,955 shares of the credit services provider’s stock valued at $75,491,000 after purchasing an additional 868,953 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.
PayPal Stock Up 1.4%
NASDAQ:PYPL opened at $62.67 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50-day moving average price is $67.12 and its 200-day moving average price is $69.86. The company has a market capitalization of $58.64 billion, a PE ratio of 12.56, a P/E/G ratio of 0.83 and a beta of 1.45. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66.
PayPal Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal’s dividend payout ratio is presently 11.22%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Tuesday, October 28th. President Capital cut their price target on shares of PayPal from $91.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their price objective on shares of PayPal from $75.00 to $60.00 and set a “hold” rating for the company in a report on Monday, November 24th. TD Cowen raised their target price on shares of PayPal from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Citigroup upgraded shares of PayPal to a “hold” rating in a research report on Thursday, October 23rd. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus target price of $82.06.
Read Our Latest Research Report on PYPL
Insider Buying and Selling
In other news, CAO Chris Natali sold 1,374 shares of PayPal stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $69.13, for a total value of $94,984.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Suzan Kereere sold 12,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $68.87, for a total transaction of $860,875.00. Following the completion of the transaction, the insider owned 30,983 shares in the company, valued at approximately $2,133,799.21. The trade was a 28.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,156 shares of company stock worth $2,432,524 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.
PayPal Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
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