Center for Financial Planning Inc. lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 73.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,645 shares of the credit services provider’s stock after purchasing an additional 698 shares during the period. Center for Financial Planning Inc.’s holdings in PayPal were worth $122,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in PayPal by 15.8% in the first quarter. AQR Capital Management LLC now owns 3,501,936 shares of the credit services provider’s stock worth $224,001,000 after acquiring an additional 476,763 shares during the period. Thompson Investment Management Inc. raised its position in PayPal by 2.8% in the second quarter. Thompson Investment Management Inc. now owns 154,991 shares of the credit services provider’s stock worth $11,519,000 after acquiring an additional 4,165 shares during the period. Kathmere Capital Management LLC bought a new stake in PayPal in the second quarter worth about $325,000. Allianz SE raised its position in PayPal by 281.8% in the first quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock worth $1,980,000 after acquiring an additional 22,392 shares during the period. Finally, Nuveen LLC bought a new stake in PayPal in the first quarter worth about $529,264,000. 68.32% of the stock is owned by institutional investors.
PayPal Price Performance
Shares of NASDAQ:PYPL opened at $69.27 on Friday. The company has a 50 day moving average of $69.06 and a 200 day moving average of $70.09. The stock has a market cap of $64.81 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.00 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.
PayPal Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 19th.
Insiders Place Their Bets
In other PayPal news, EVP Diego Scotti sold 3,838 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $68.97, for a total value of $264,706.86. Following the completion of the transaction, the executive vice president owned 16,989 shares of the company’s stock, valued at $1,171,731.33. The trade was a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzan Kereere sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $69.52, for a total transaction of $347,600.00. Following the completion of the transaction, the insider directly owned 43,483 shares of the company’s stock, valued at approximately $3,022,938.16. This represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,374 shares of company stock valued at $996,093 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on PYPL shares. Mizuho set a $84.00 price objective on shares of PayPal in a research report on Thursday. Cowen reissued a “mixed” rating on shares of PayPal in a research report on Wednesday. Canaccord Genuity Group boosted their price target on shares of PayPal from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. JMP Securities lowered their price target on shares of PayPal from $110.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein lowered their price target on shares of PayPal from $85.00 to $76.00 in a research report on Tuesday, October 21st. Fifteen research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus price target of $83.10.
Check Out Our Latest Stock Analysis on PayPal
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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