Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 24.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 532,498 shares of the credit services provider’s stock after selling 175,574 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.06% of PayPal worth $39,575,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PYPL. AQR Capital Management LLC raised its holdings in shares of PayPal by 15.8% during the first quarter. AQR Capital Management LLC now owns 3,501,936 shares of the credit services provider’s stock valued at $224,001,000 after acquiring an additional 476,763 shares during the period. Thompson Investment Management Inc. raised its stake in PayPal by 2.8% during the 2nd quarter. Thompson Investment Management Inc. now owns 154,991 shares of the credit services provider’s stock valued at $11,519,000 after purchasing an additional 4,165 shares during the period. Kathmere Capital Management LLC acquired a new stake in shares of PayPal in the second quarter worth $325,000. Allianz SE grew its holdings in shares of PayPal by 281.8% during the first quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock valued at $1,980,000 after buying an additional 22,392 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in PayPal during the 1st quarter worth about $529,264,000. 68.32% of the stock is owned by institutional investors.
PayPal Trading Up 1.0%
PYPL stock opened at $61.83 on Friday. The business has a fifty day moving average price of $67.23 and a 200 day moving average price of $69.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The stock has a market capitalization of $57.85 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.83 and a beta of 1.45.
PayPal Announces Dividend
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 issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. PayPal’s dividend payout ratio (DPR) is currently 11.22%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PYPL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of PayPal in a research note on Wednesday, October 8th. Canaccord Genuity Group increased their price objective on PayPal from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. President Capital reduced their price objective on PayPal from $91.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company raised PayPal to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Dbs Bank cut their price target on PayPal from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.06.
View Our Latest Research Report on PayPal
Insider Transactions at PayPal
In other PayPal news, CAO Chris Natali sold 1,374 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $69.13, for a total transaction of $94,984.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $68.97, for a total transaction of $264,706.86. Following the completion of the transaction, the executive vice president directly owned 16,989 shares in the company, valued at $1,171,731.33. This trade represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,156 shares of company stock worth $2,432,524 in the last quarter. 0.08% of the stock is owned by corporate insiders.
About PayPal
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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