Perigon Wealth Management LLC Acquires New Position in PayPal Holdings, Inc. $PYPL

Perigon Wealth Management LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,984 shares of the credit services provider’s stock, valued at approximately $690,000.

A number of other large investors also recently bought and sold shares of PYPL. Maia Wealth LLC grew its stake in shares of PayPal by 2.5% during the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock valued at $424,000 after purchasing an additional 155 shares during the last quarter. GeoWealth Management LLC raised its position in shares of PayPal by 6.2% in the 3rd quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock valued at $216,000 after acquiring an additional 188 shares during the period. Formidable Asset Management LLC boosted its stake in PayPal by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 25,937 shares of the credit services provider’s stock worth $1,173,000 after acquiring an additional 205 shares during the last quarter. KPP Advisory Services LLC grew its holdings in PayPal by 3.3% during the first quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock valued at $300,000 after purchasing an additional 214 shares during the period. Finally, Jackson Thornton Wealth Management LLC grew its holdings in PayPal by 3.5% during the first quarter. Jackson Thornton Wealth Management LLC now owns 7,110 shares of the credit services provider’s stock valued at $322,000 after purchasing an additional 238 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 1.4%

Shares of PYPL opened at $61.25 on Thursday. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The firm has a market cap of $52.40 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. The firm’s 50-day simple moving average is $51.31 and its 200 day simple moving average is $47.35. 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 data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.

PayPal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal’s dividend payout ratio (DPR) is 10.59%.

Analyst Ratings Changes

Several research firms have weighed in on PYPL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $45.00 target price on shares of PayPal in a report on Wednesday, July 29th. UBS Group set a $45.00 price target on PayPal in a report on Wednesday, July 29th. The Goldman Sachs Group set a $50.00 target price on PayPal in a research note on Tuesday, July 28th. Royal Bank Of Canada increased their price objective on shares of PayPal from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Truist Financial upped their target price on shares of PayPal from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Hold” and an average price target of $56.28.

More 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

Insider Buying and Selling at PayPal

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

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.