Fiduciary Alliance LLC grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,501 shares of the credit services provider’s stock after purchasing an additional 10,847 shares during the period. PayPal comprises about 0.7% of Fiduciary Alliance LLC’s portfolio, making the stock its 29th largest position. Fiduciary Alliance LLC’s holdings in PayPal were worth $10,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in PayPal in the 2nd quarter valued at about $921,570,000. Lazard Asset Management LLC increased its position in shares of PayPal by 1,066.0% during the second quarter. Lazard Asset Management LLC now owns 2,106,215 shares of the credit services provider’s stock valued at $156,532,000 after acquiring an additional 1,925,583 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of PayPal by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,569,023 shares of the credit services provider’s stock valued at $265,250,000 after acquiring an additional 1,107,202 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in PayPal by 15.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 5,726,695 shares of the credit services provider’s stock worth $425,608,000 after acquiring an additional 756,058 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new position in PayPal in the first quarter worth $46,103,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Price Performance
PYPL opened at $60.18 on Thursday. The company has a market capitalization of $56.31 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.83 and a beta of 1.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $65.10 and a 200-day moving average price of $68.94. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.25.
PayPal Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were given a $0.14 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal’s payout ratio is 11.22%.
Insider Buying and Selling
In other news, EVP Diego Scotti sold 3,838 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $68.97, for a total value of $264,706.86. Following the sale, the executive vice president directly owned 16,989 shares of the company’s stock, valued at approximately $1,171,731.33. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Webster sold 9,282 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $66.29, for a total transaction of $615,303.78. Following the transaction, the executive vice president directly owned 35,699 shares of the company’s stock, valued at approximately $2,366,486.71. This represents a 20.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,156 shares of company stock valued at $2,432,524. 0.08% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
PYPL has been the subject of several research analyst reports. Rothschild & Co Redburn raised their target price on PayPal from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. UBS Group raised their price objective on shares of PayPal from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Wells Fargo & Company dropped their target price on shares of PayPal from $74.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Tuesday, October 28th. Finally, Dbs Bank lowered their price target on shares of PayPal from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, November 13th. Twelve research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.97.
Check Out Our Latest Analysis on PYPL
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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