11,695 Shares in PayPal Holdings, Inc. $PYPL Bought by United Bank

United Bank purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,695 shares of the credit services provider’s stock, valued at approximately $505,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of PayPal in the second quarter valued at about $3,236,989,000. Norges Bank bought a new position in shares of PayPal during the fourth quarter valued at about $949,758,000. Bank of America Corp DE boosted its holdings in shares of PayPal by 67.9% during the first quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock worth $1,158,554,000 after purchasing an additional 10,356,256 shares during the period. Amundi boosted its holdings in shares of PayPal by 227.6% during the first quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after purchasing an additional 9,590,488 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of PayPal during the second quarter worth about $251,215,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $61.25 on Thursday. The company has a 50 day simple moving average of $51.31 and a two-hundred day simple moving average of $47.35. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The company has a market capitalization of $52.40 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.47 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. Analysts expect that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.

PayPal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. PayPal’s payout ratio is 10.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HSBC started coverage on PayPal in a research report on Friday, July 24th. They set a “buy” rating for the company. The Goldman Sachs Group set a $50.00 price objective on PayPal in a research report on Tuesday, July 28th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on PayPal from $46.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company raised their price target on PayPal from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, PayPal has an average rating of “Hold” and an average target price of $56.28.

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,888,723.68. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the transaction, the chief accounting officer owned 2,216 shares of the company’s stock, valued at $128,749.60. The trade was a 37.63% 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. Over the last three months, insiders have sold 14,774 shares of company stock valued at $738,249. Insiders own 0.63% of the company’s stock.

Key PayPal News

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: PayPal and Venmo are expanding into higher-education tuition payments through integrations with Illumia, Nelnet Campus Commerce and TouchNet. The services are already available at schools including Michigan State, Kansas State, Texas Tech, Butler and Bellarmine, potentially increasing transaction volume and everyday use of PayPal’s wallets. PayPal and Venmo Expand to Tuition Payments
• Positive Sentiment: Reports that Stripe and Advent International have renewed interest in a potential PayPal transaction are supporting the shares by reinforcing takeover speculation. However, no deal has been announced, so this remains a potential catalyst rather than a confirmed development. PayPal Buyout Talks Resurface
• Positive Sentiment: Piper Sandler raised its price target to $59 while maintaining a Neutral rating, indicating greater recognition of potential value beyond PayPal’s checkout business. Piper Sandler Raises PayPal Price Target

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.