WASHINGTON TRUST Co Has $3.70 Million Holdings in PayPal Holdings, Inc. $PYPL

WASHINGTON TRUST Co lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 63.5% in the 4th quarter, HoldingsChannel reports. The fund owned 63,353 shares of the credit services provider’s stock after selling 110,070 shares during the quarter. WASHINGTON TRUST Co’s holdings in PayPal were worth $3,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kelleher Financial Advisors acquired a new stake in PayPal in the 3rd quarter valued at about $30,000. Cloud Capital Management LLC acquired a new stake in shares of PayPal during the 3rd quarter worth approximately $30,000. Torren Management LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $31,000. Strategic Advocates LLC acquired a new stake in shares of PayPal during the 3rd quarter worth approximately $38,000. Finally, Steph & Co. grew its position in shares of PayPal by 103.1% during the 4th quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock worth $38,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity

In other news, EVP Frank Keller sold 29,581 shares of the company’s 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 $1,361,317.62. Following the completion of the transaction, the executive vice president owned 51,567 shares in the company, valued at $2,373,113.34. This represents a 36.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzan Kereere sold 13,515 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $46.02, for a total transaction of $621,960.30. Following the sale, the insider directly owned 30,983 shares in the company, valued at $1,425,837.66. This trade represents a 30.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,373 shares of company stock worth $2,684,341 over the last quarter. 0.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PYPL. Daiwa Securities Group upgraded shares of PayPal from a “hold” rating to an “outperform” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of PayPal in a research report on Tuesday, February 24th. Citigroup lifted their price target on shares of PayPal from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Susquehanna lowered their price target on shares of PayPal from $90.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, February 4th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of PayPal in a research report on Monday, February 23rd. Eight 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’s stock. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Hold” and a consensus target price of $55.85.

PayPal Stock Up 0.7%

Shares of NASDAQ PYPL opened at $44.75 on Friday. The stock has a market cap of $39.47 billion, a P/E ratio of 8.40, a P/E/G ratio of 1.11 and a beta of 1.39. The firm has a 50 day moving average price of $46.32 and a 200 day moving average price of $51.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $8.35 billion during the quarter, compared to analysts’ expectations of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 earnings per share. Analysts expect that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Announces Dividend

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

PayPal Profile

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.