PayPal Holdings, Inc. $PYPL Shares Bought by LSV Asset Management

LSV Asset Management lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,752,260 shares of the credit services provider’s stock after buying an additional 143,559 shares during the period. LSV Asset Management’s holdings in PayPal were worth $251,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in PayPal during the second quarter worth $921,570,000. Lazard Asset Management LLC increased its position in shares of PayPal by 1,066.0% in the second quarter. Lazard Asset Management LLC now owns 2,106,215 shares of the credit services provider’s stock valued at $156,532,000 after buying an additional 1,925,583 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PayPal by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,569,023 shares of the credit services provider’s stock worth $265,250,000 after buying an additional 1,107,202 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of PayPal by 3,552.7% in the 3rd quarter. Federated Hermes Inc. now owns 690,696 shares of the credit services provider’s stock worth $46,318,000 after buying an additional 671,787 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in PayPal by 9.5% in the 2nd quarter. Primecap Management Co. CA now owns 6,542,450 shares of the credit services provider’s stock valued at $486,235,000 after acquiring an additional 568,640 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

PYPL opened at $40.49 on Thursday. The company has a 50 day moving average of $55.91 and a two-hundred day moving average of $63.59. PayPal Holdings, Inc. has a 52-week low of $38.88 and a 52-week high of $79.50. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.49. The company has a market cap of $37.28 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.07 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.06). PayPal had a net margin of 15.77% and a return on equity of 25.42%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the business earned $1.19 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, March 4th. PayPal’s dividend payout ratio is presently 10.35%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Argus dropped their price objective on shares of PayPal from $87.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of PayPal in a research report on Thursday, January 22nd. Monness Crespi & Hardt cut PayPal from a “buy” rating to a “neutral” rating in a report on Monday, January 5th. Morgan Stanley decreased their price objective on PayPal from $50.00 to $34.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Ten analysts have rated the stock with a Buy rating, thirty have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.03.

Insider Activity

In related news, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $59.84, for a total value of $249,054.08. Following the transaction, the insider owned 30,983 shares in the company, valued at approximately $1,854,022.72. The trade was a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Frank Keller sold 3,478 shares of PayPal stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $40.20, for a total value of $139,815.60. Following the sale, the executive vice president owned 51,567 shares in the company, valued at $2,072,993.40. This represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

About PayPal

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.