Korea Investment CORP Purchases Shares of 274,214 PayPal Holdings, Inc. $PYPL

Korea Investment CORP purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 274,214 shares of the credit services provider’s stock, valued at approximately $11,841,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PYPL. Maia Wealth LLC increased its stake in 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 acquiring an additional 155 shares during the period. GeoWealth Management LLC lifted 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 worth $216,000 after acquiring an additional 188 shares during the period. Formidable Asset Management LLC grew its holdings in shares of 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 purchasing an additional 205 shares in the last quarter. KPP Advisory Services LLC grew its holdings in shares of PayPal by 3.3% during the 1st quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock worth $300,000 after purchasing an additional 214 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC increased its position in shares of 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.

Insider Activity at PayPal

In other PayPal news, insider Frank Keller sold 4,612 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total value of $196,194.48. Following the transaction, the insider directly owned 41,567 shares in the company, valued at $1,768,260.18. The trade was a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $77,679.70. Following the sale, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. This represents 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. Insiders sold 14,774 shares of company stock valued at $738,249 in the last ninety days. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of several research reports. HSBC began coverage on PayPal in a research report on Friday, July 24th. They issued a “buy” rating for the company. Argus set a $70.00 price objective on shares of PayPal in a research note on Wednesday, July 29th. Truist Financial raised their price objective on shares of PayPal from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 19th. BNP Paribas Exane lifted their target price on shares of PayPal from $43.50 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $55.00 target price on shares of PayPal in a research report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.28.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $61.68 on Tuesday. The business’s fifty day moving average price is $52.51 and its two-hundred day moving average price is $47.62. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The stock has a market capitalization of $52.76 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the company posted $1.40 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.

PayPal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.14 per share. 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 dividend payout ratio (DPR) is currently 10.59%.

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.