Clifford Swan Investment Counsel LLC Sells 15,647 Shares of PayPal Holdings, Inc. $PYPL

Clifford Swan Investment Counsel LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 150,926 shares of the credit services provider’s stock after selling 15,647 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in PayPal were worth $6,517,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 924 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of PayPal in the 4th quarter worth about $248,000. Sivia Capital Partners LLC grew its position in PayPal by 41.5% during the second quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider’s stock valued at $332,000 after buying an additional 1,310 shares during the period. United Bank increased its holdings in PayPal by 40.1% during the second quarter. United Bank now owns 17,388 shares of the credit services provider’s stock worth $1,292,000 after buying an additional 4,974 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in PayPal by 17.9% during the second quarter. Federated Hermes Inc. now owns 18,909 shares of the credit services provider’s stock worth $1,405,000 after buying an additional 2,865 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In related news, insider Frank Keller sold 732 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $42,529.20. Following the sale, the insider owned 41,567 shares in the company, valued at approximately $2,415,042.70. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 dated Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the transaction, the insider owned 30,983 shares of the company’s stock, valued at approximately $1,888,723.68. The trade was a 11.84% 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 have sold 14,774 shares of company stock worth $738,249 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PYPL. Truist Financial reduced their target price on shares of PayPal from $62.00 to $53.00 and set a “hold” rating for the company in a research report on Monday. William Blair reissued a “market perform” rating on shares of PayPal in a report on Wednesday, July 15th. Piper Sandler boosted their target price on PayPal from $42.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. UBS Group set a $45.00 price target on PayPal in a research report on Wednesday, July 29th. Finally, Mizuho set a $51.00 price objective on PayPal in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Hold” and an average price target of $56.03.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $52.67 on Tuesday. 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 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 cap of $45.06 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.29. The stock has a fifty day moving average of $54.09 and a 200-day moving average of $48.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.

PayPal Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th. PayPal’s dividend payout ratio is 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.