Alta Wealth Advisors LLC Buys New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Alta Wealth Advisors LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 10,353 shares of the credit services provider's stock, valued at approximately $808,000.

Several other institutional investors have also recently added to or reduced their stakes in PYPL. Marks Wealth LLC acquired a new position in PayPal in the third quarter worth $245,000. First Citizens Bank & Trust Co. bought a new position in shares of PayPal in the third quarter valued at about $265,000. Blue Trust Inc. lifted its position in PayPal by 126.5% during the 3rd quarter. Blue Trust Inc. now owns 7,607 shares of the credit services provider's stock worth $594,000 after buying an additional 4,249 shares in the last quarter. Riverview Trust Co lifted its position in PayPal by 25.5% during the 3rd quarter. Riverview Trust Co now owns 875 shares of the credit services provider's stock worth $68,000 after buying an additional 178 shares in the last quarter. Finally, KMG Fiduciary Partners LLC grew its holdings in PayPal by 3.4% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 42,467 shares of the credit services provider's stock worth $3,314,000 after acquiring an additional 1,387 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Up 1.4 %

NASDAQ PYPL traded up $1.12 during trading on Friday, hitting $80.94. The stock had a trading volume of 8,844,338 shares, compared to its average volume of 13,674,411. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company's 50-day moving average price is $74.16 and its two-hundred day moving average price is $66.63. The company has a market capitalization of $84.67 billion, a PE ratio of 20.39, a P/E/G ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on PayPal from $74.00 to $94.00 and gave the company a "buy" rating in a report on Monday, September 23rd. William Blair raised PayPal to a "hold" rating in a report on Tuesday, July 30th. Robert W. Baird upped their target price on shares of PayPal from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of PayPal from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PayPal currently has an average rating of "Moderate Buy" and an average price target of $78.03.

PayPal Company 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.