Carnegie Investment Counsel lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,232 shares of the credit services provider's stock after acquiring an additional 65,343 shares during the period. Carnegie Investment Counsel's holdings in PayPal were worth $24,345,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider's stock valued at $183,789,000 after buying an additional 409,322 shares during the last quarter. Edgestream Partners L.P. acquired a new position in PayPal in the second quarter valued at approximately $1,645,000. Axxcess Wealth Management LLC grew its holdings in shares of PayPal by 50.8% during the second quarter. Axxcess Wealth Management LLC now owns 11,171 shares of the credit services provider's stock valued at $648,000 after purchasing an additional 3,763 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after purchasing an additional 167 shares during the period. Finally, Argent Trust Co lifted its holdings in shares of PayPal by 1.5% in the 2nd quarter. Argent Trust Co now owns 24,404 shares of the credit services provider's stock worth $1,416,000 after purchasing an additional 369 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Susquehanna upped their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research report on Monday, January 6th. Sanford C. Bernstein cut shares of PayPal from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Macquarie boosted their target price on shares of PayPal from $95.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Finally, Bank of America upgraded shares of PayPal from a "neutral" rating to a "buy" rating and raised their price target for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.32.
Read Our Latest Stock Analysis on PYPL
PayPal Stock Up 3.3 %
Shares of PayPal stock traded up $2.89 during midday trading on Friday, hitting $91.81. The company's stock had a trading volume of 16,468,435 shares, compared to its average volume of 8,520,381. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $92.04 billion, a P/E ratio of 21.91, a PEG ratio of 1.42 and a beta of 1.44. The stock has a 50-day simple moving average of $87.23 and a 200-day simple moving average of $76.49.
PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.
PayPal Profile
(
Free Report)
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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