Financial Advocates Investment Management Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Financial Advocates Investment Management lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,120 shares of the credit services provider’s stock after selling 214 shares during the quarter. Financial Advocates Investment Management’s holdings in PayPal were worth $1,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC lifted its stake in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal in the third quarter worth about $387,435,000. United Advisor Group LLC bought a new stake in shares of PayPal in the 3rd quarter valued at about $810,000. FCG Investment Co purchased a new stake in PayPal during the 3rd quarter valued at about $1,079,000. Finally, Equity Investment Corp grew its position in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after acquiring an additional 67,497 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PYPL. Stephens boosted their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, Canaccord Genuity Group boosted their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.29.

PayPal Price Performance

NASDAQ PYPL opened at $78.57 on Friday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66. The stock has a 50-day moving average of $87.87 and a 200 day moving average of $79.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $78.77 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

PayPal Company Profile

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.