Bray Capital Advisors Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)
Bray Capital Advisors lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,439 shares of the credit services provider’s stock after selling 4,078 shares during the period. PayPal Holdings comprises about 1.8% of Bray Capital Advisors’ holdings, making the stock its 17th largest position. Bray Capital Advisors’ holdings in PayPal Holdings were worth $3,298,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Thompson Davis & CO. Inc. boosted its stake in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after buying an additional 649 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of PayPal Holdings during the first quarter worth approximately $106,000. Carroll Financial Associates Inc. boosted its stake in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock worth $108,000 after buying an additional 740 shares in the last quarter. Stelac Advisory Services LLC acquired a new stake in shares of PayPal Holdings during the first quarter worth approximately $119,000. Finally, Clean Yield Group acquired a new stake in shares of PayPal Holdings during the first quarter worth approximately $127,000. 81.31% of the stock is owned by hedge funds and other institutional investors.
PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.03% during mid-day trading on Friday, reaching $58.04. 6,962,121 shares of the company were exchanged. The firm has a market capitalization of $69.79 billion, a P/E ratio of 46.81 and a beta of 0.99. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The stock has a 50-day moving average of $57.01 and a 200 day moving average of $48.47.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.
PayPal Holdings declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of analysts have commented on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 target price (up from $62.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Barclays PLC increased their price objective on shares of PayPal Holdings from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price objective (up from $51.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Robert W. Baird reissued an “outperform” rating and issued a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. increased their price objective on shares of PayPal Holdings from $52.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $59.49.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gail J. Mcgovern sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the completion of the transaction, the director now owns 12,647 shares in the company, valued at $682,558.59. The disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock worth $5,653,198 over the last quarter. 6.00% of the stock is currently owned by insiders.
About PayPal Holdings
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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