Advisors Asset Management Inc. Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Advisors Asset Management Inc. lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,734 shares of the credit services provider’s stock after buying an additional 636 shares during the period. Advisors Asset Management Inc.’s holdings in PayPal were worth $21,125,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mizuho Securities USA LLC boosted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC boosted its stake in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in PayPal by 12.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after acquiring an additional 364,851 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stephens raised their price objective on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Jefferies Financial Group lowered their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Macquarie lifted their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Down 0.7 %

Shares of NASDAQ:PYPL opened at $84.09 on Wednesday. PayPal Holdings, Inc. has a twelve month low of $55.28 and a twelve month high of $87.92. The company has a market capitalization of $84.30 billion, a PE ratio of 20.07, a P/E/G ratio of 1.53 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $79.47 and a 200-day simple moving average of $69.29.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 EPS. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

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.