Cibc World Market Inc. Acquires New Position in PayPal Holdings, Inc. $PYPL

Cibc World Market Inc. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 149,977 shares of the credit services provider’s stock, valued at approximately $6,476,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Maia Wealth LLC raised its stake in shares of PayPal by 2.5% during the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock worth $424,000 after acquiring an additional 155 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of PayPal by 6.2% in the 3rd quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock valued at $216,000 after purchasing an additional 188 shares in the last quarter. Formidable Asset Management LLC grew its holdings in shares of PayPal by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 25,937 shares of the credit services provider’s stock valued at $1,173,000 after purchasing an additional 205 shares during the last quarter. KPP Advisory Services LLC grew its holdings in shares of PayPal by 3.3% during the 1st quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock valued at $300,000 after purchasing an additional 214 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC raised its position in PayPal by 3.5% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 7,110 shares of the credit services provider’s stock worth $322,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.0%

Shares of PYPL opened at $62.27 on Wednesday. The stock has a market capitalization of $53.27 billion, a P/E ratio of 11.77, a PEG ratio of 1.50 and a beta of 1.30. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.21. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $52.88 and a two-hundred day simple moving average of $47.77.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 earnings per share. On average, research analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current year.

PayPal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal’s payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PYPL shares. Telsey Advisory Group downgraded shares of PayPal to a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley set a $45.00 price objective on PayPal in a report on Wednesday, July 29th. UBS Group set a $45.00 target price on PayPal in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $50.00 target price on PayPal in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded PayPal from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.28.

Insider Buying and Selling at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $77,679.70. Following the completion of the transaction, the chief accounting officer owned 2,216 shares of the company’s stock, valued at $128,749.60. This represents a 37.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the completion of the sale, the insider 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,774 shares of company stock valued at $738,249 in the last 90 days. Insiders own 0.63% of the company’s stock.

About PayPal

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.