PayPal Holdings, Inc. $PYPL Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,511 shares of the credit services provider’s stock after selling 60,057 shares during the quarter. Douglas Lane & Associates LLC’s holdings in PayPal were worth $14,735,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PYPL. BlackRock Inc. acquired a new stake in shares of PayPal in the 2nd quarter valued at about $3,236,989,000. Bank of America Corp DE raised its position in PayPal by 67.9% in the 1st quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock valued at $1,158,554,000 after buying an additional 10,356,256 shares during the last quarter. Amundi raised its position in PayPal by 227.6% in the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock valued at $624,364,000 after buying an additional 9,590,488 shares during the last quarter. Primecap Management Co. CA bought a new stake in PayPal in the 2nd quarter valued at approximately $422,092,000. Finally, Corient Private Wealth LP acquired a new position in PayPal during the 2nd quarter worth approximately $20,758,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

Shares of PYPL stock traded up $0.35 during trading on Friday, reaching $55.37. 6,803,617 shares of the company’s stock were exchanged, compared to its average volume of 17,561,889. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.21. The firm’s fifty day moving average price is $56.26 and its 200-day moving average price is $50.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $47.37 billion, a PE ratio of 10.47, a PEG ratio of 1.17 and a beta of 1.27.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current year.

PayPal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 4th. PayPal’s dividend payout ratio is currently 10.59%.

Insiders Place Their Bets

In other news, CAO Chris Natali sold 552 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.80, for a total transaction of $30,249.60. Following the completion of the sale, the chief accounting officer owned 2,400 shares in the company, valued at $131,520. The trade was a 18.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $55.72, for a total value of $188,277.88. Following the completion of the sale, the insider owned 30,983 shares of the company’s stock, valued at $1,726,372.76. This trade represents a 9.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,774 shares of company stock worth $848,095 over the last three months. Insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PYPL. Argus set a $70.00 price objective on shares of PayPal in a report on Wednesday, July 29th. BNP Paribas Exane lifted their price target on shares of PayPal from $43.50 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. BTIG Research restated a “neutral” rating on shares of PayPal in a research note on Wednesday, July 15th. Canaccord Genuity Group restated a “hold” rating and issued a $55.00 price objective on shares of PayPal in a report on Wednesday, July 29th. Finally, TD Cowen lifted their target price on PayPal from $48.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.28.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, digital wallets, and payment processing for merchants.

The company’s principal consumer brands include PayPal and Venmo, while its merchant and commerce offerings include Braintree, PayPal Zettle, and PayPal Complete Payments. PayPal also operates Xoom, a service for international money transfers, and Honey, a shopping and rewards platform.