Elevation Point Wealth Partners LLC Acquires New Position in PayPal Holdings, Inc. $PYPL

Elevation Point Wealth Partners LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,274 shares of the credit services provider’s stock, valued at approximately $789,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of PayPal during the second quarter valued at $1,096,000. Commerce Bank purchased a new stake in PayPal during the 2nd quarter valued at about $831,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PayPal in the second quarter valued at about $2,076,000. Evolve Private Wealth LLC acquired a new stake in shares of PayPal during the second quarter worth about $363,000. Finally, Martin & Co. Inc. TN purchased a new stake in PayPal in the second quarter valued at approximately $2,571,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PYPL. Wells Fargo & Company lifted their price objective on shares of PayPal from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Jefferies Financial Group raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Citigroup lifted their price objective on PayPal from $48.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. William Blair reaffirmed a “market perform” rating on shares of PayPal in a report on Wednesday, July 15th. Finally, Robert W. Baird boosted their price target on PayPal from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.28.

Insiders Place Their Bets

In other news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction 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 transaction, the insider owned 30,983 shares in the company, valued at $1,888,723.68. The trade was a 11.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $77,679.70. Following the completion of the sale, the chief accounting officer directly owned 2,216 shares of the company’s stock, valued at $128,749.60. This represents a 37.63% decrease in their position. 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. Insiders sold 14,774 shares of company stock valued at $738,249 in the last three months. 0.63% of the stock is currently owned by insiders.

PayPal Stock Up 0.2%

PYPL stock opened at $61.68 on Tuesday. The firm has a 50-day simple moving average of $52.51 and a 200-day simple moving average of $47.62. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The stock has a market capitalization of $52.76 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.50 and a beta of 1.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

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

PayPal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. PayPal’s dividend payout ratio (DPR) is 10.59%.

PayPal Company 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.