ICA Group Wealth Management LLC Sells 2,370 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

ICA Group Wealth Management LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 74.1% during the second quarter, HoldingsChannel reports. The firm owned 830 shares of the credit services provider’s stock after selling 2,370 shares during the period. ICA Group Wealth Management LLC’s holdings in PayPal were worth $48,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PYPL. Fiduciary Alliance LLC increased its stake in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the period. 1832 Asset Management L.P. boosted its holdings in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares in the last quarter. Blue Trust Inc. boosted its holdings in PayPal by 21.2% during the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after purchasing an additional 588 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after purchasing an additional 36,994 shares in the last quarter. Finally, Brown Shipley& Co Ltd boosted its holdings in PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after purchasing an additional 2,919 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

NASDAQ PYPL opened at $70.10 on Monday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $74.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $71.67 billion, a PE ratio of 17.66, a P/E/G ratio of 0.99 and a beta of 1.43. The company’s 50 day simple moving average is $65.55 and its two-hundred day simple moving average is $63.95.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. Analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the topic of a number of research analyst reports. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. TD Cowen increased their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt increased their price target on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Susquehanna raised their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.