PNC Financial Services Group Inc. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352,952 shares of the credit services provider's stock after selling 20,250 shares during the quarter. PNC Financial Services Group Inc.'s holdings in PayPal were worth $27,541,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the business. Bruce G. Allen Investments LLC increased its stake in shares of PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider's stock worth $141,000 after purchasing an additional 124 shares during the last quarter. First United Bank & Trust increased its position in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider's stock worth $187,000 after buying an additional 145 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider's stock valued at $369,000 after buying an additional 152 shares during the period. SYSTM Wealth Solutions LLC lifted 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 valued at $29,000 after buying an additional 167 shares during the last quarter. Finally, First Bank & Trust grew its stake in shares of PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider's stock worth $313,000 after acquiring an additional 171 shares during the period. 68.32% of the stock is owned by institutional investors.
PayPal Stock Up 2.3 %
PYPL stock traded up $1.95 during trading on Friday, hitting $86.77. 6,778,495 shares of the stock traded hands, compared to its average volume of 13,364,590. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.55 and a 1 year high of $87.92. The firm's 50 day moving average is $80.41 and its two-hundred day moving average is $69.66.
PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during 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 firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on PayPal from $71.00 to $76.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Argus raised shares of PayPal from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler restated a "neutral" rating and set a $88.00 target price on shares of PayPal in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on PayPal from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.60.
Read Our Latest Stock Report on PayPal
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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