VCI Wealth Management LLC Buys 21,776 Shares of PayPal Holdings, Inc. $PYPL

VCI Wealth Management LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,776 shares of the credit services provider’s stock, valued at approximately $1,144,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of PayPal in the second quarter valued at about $3,236,989,000. Bank of America Corp DE lifted its position in PayPal by 67.9% during the 1st 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 buying an additional 10,356,256 shares in the last quarter. Amundi lifted its position in PayPal by 227.6% during the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after buying an additional 9,590,488 shares in the last quarter. Primecap Management Co. CA bought a new stake in PayPal during the 2nd quarter worth about $422,092,000. Finally, Dimensional Fund Advisors LP grew its holdings in PayPal by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,179,771 shares of the credit services provider’s stock worth $415,192,000 after acquiring an additional 376,530 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 3.1%

PYPL stock opened at $58.78 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $70.35. The company has a market cap of $48.83 billion, a P/E ratio of 11.22, a PEG ratio of 1.22 and a beta of 1.27. The business has a fifty day moving average of $55.31 and a 200-day moving average of $50.05.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 27th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.14. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.71 billion. PayPal had a return on equity of 24.39% and a net margin of 13.78%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 earnings per share. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.58 EPS for the current year.

PayPal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. PayPal’s payout ratio is currently 10.69%.

Insider Buying and Selling at PayPal

In other news, insider Frank Keller sold 4,612 shares of PayPal stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $55.43, for a total transaction of $255,643.16. Following the completion of the sale, the insider owned 41,567 shares in the company, valued at $2,304,058.81. The trade was a 9.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,888,723.68. This trade represents a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 13,437 shares of company stock worth $768,417. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PYPL. Canaccord Genuity Group restated a “hold” rating and issued a $55.00 price objective on shares of PayPal in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $55.00 target price on shares of PayPal in a research report on Friday, September 25th. Piper Sandler increased their price target on shares of PayPal from $42.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Clear Str raised shares of PayPal to a “hold” rating in a research note on Thursday, July 16th. Finally, Susquehanna raised their price target on shares of PayPal from $63.00 to $67.00 and gave the company a “positive” rating in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating, thirty-one have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.94.

PayPal Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, payment processing, invoicing, and other commerce-related transactions.

The company’s portfolio includes the PayPal and Venmo brands, Braintree’s payment processing technology, and Xoom’s international money transfer service. PayPal also offers merchant tools, digital wallets, payment solutions, and consumer financing products through its platform and related services.

PayPal traces its origins to 1998 and became an independent publicly traded company after separating from eBay in 2015.