Carnegie Investment Counsel Grows Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Carnegie Investment Counsel lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 285,232 shares of the credit services provider’s stock after buying an additional 65,343 shares during the quarter. Carnegie Investment Counsel’s holdings in PayPal were worth $24,345,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of 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 valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Legal & General Group Plc increased its stake in 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 worth $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its holdings in PayPal by 28.1% during 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 in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the topic of several analyst reports. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Stephens boosted their price objective on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.32.

PayPal Stock Down 0.8 %

Shares of NASDAQ:PYPL opened at $88.92 on Friday. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. 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 $89.15 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.42 and a beta of 1.44. The firm has a fifty day moving average price of $87.08 and a 200 day moving average price of $76.40.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.