PayPal Holdings, Inc. $PYPL Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,437 shares of the credit services provider’s stock after selling 19,881 shares during the period. PNC Financial Services Group Inc.’s holdings in PayPal were worth $20,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Maia Wealth LLC boosted its stake in PayPal by 2.5% in the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock valued at $424,000 after acquiring an additional 155 shares during the period. Transatlantique Private Wealth LLC raised its holdings in shares of PayPal by 2.9% during the third quarter. Transatlantique Private Wealth LLC now owns 5,698 shares of the credit services provider’s stock valued at $382,000 after buying an additional 159 shares during the last quarter. Martin & Co. Inc. TN boosted its position in shares of PayPal by 0.3% during the third quarter. Martin & Co. Inc. TN now owns 56,934 shares of the credit services provider’s stock worth $3,818,000 after buying an additional 175 shares during the period. RWA Wealth Partners LLC boosted its position in shares of PayPal by 0.7% during the third quarter. RWA Wealth Partners LLC now owns 25,043 shares of the credit services provider’s stock worth $1,679,000 after buying an additional 184 shares during the period. Finally, GeoWealth Management LLC boosted its position in shares of PayPal by 6.2% during the third quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock worth $216,000 after buying an additional 188 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $44.23 on Friday. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50. The stock has a market cap of $39.02 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.11 and a beta of 1.39. The stock’s 50 day moving average price is $46.40 and its 200 day moving average price is $52.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPLGet Free Report) last announced its earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The firm had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.3 earnings per share for the current fiscal year.

PayPal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.56 annualized dividend and a yield of 1.3%. PayPal’s payout ratio is presently 10.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore reduced their price objective on PayPal from $65.00 to $40.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Bank of America reduced their price objective on PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on PayPal from $50.00 to $45.00 in a research report on Monday, May 11th. Loop Capital assumed coverage on PayPal in a research report on Tuesday, March 31st. They set a “hold” rating and a $46.00 price objective for the company. Finally, Rothschild & Co Redburn reduced their price objective on PayPal from $50.00 to $32.00 and set a “sell” rating for the company in a research report on Wednesday, February 11th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, PayPal presently has an average rating of “Hold” and an average target price of $55.85.

View Our Latest Research Report on PayPal

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 13,515 shares of PayPal stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $46.02, for a total value of $621,960.30. Following the transaction, the insider owned 30,983 shares in the company, valued at approximately $1,425,837.66. The trade was a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frank Keller sold 29,581 shares of PayPal stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $46.02, for a total transaction of $1,361,317.62. Following the completion of the transaction, the executive vice president owned 51,567 shares in the company, valued at approximately $2,373,113.34. This trade represents a 36.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 57,373 shares of company stock worth $2,684,341. 0.63% of the stock is owned by insiders.

PayPal News Summary

Here are the key news stories impacting PayPal this week:

About PayPal

(Free Report)

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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