Litman Gregory Wealth Management LLC Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Litman Gregory Wealth Management LLC raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,603 shares of the credit services provider’s stock after acquiring an additional 17,822 shares during the period. PayPal makes up approximately 1.0% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 24th biggest holding. Litman Gregory Wealth Management LLC’s holdings in PayPal were worth $10,170,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of PayPal during the 4th quarter worth approximately $25,000. Sutton Wealth Advisors Inc. raised its holdings in PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after buying an additional 237 shares during the period. PCA Investment Advisory Services Inc. purchased a new stake in PayPal during the 2nd quarter valued at $27,000. Resurgent Financial Advisors LLC purchased a new stake in PayPal during the 4th quarter valued at $29,000. Finally, BluePath Capital Management LLC purchased a new stake in PayPal during the 3rd quarter valued at $33,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PYPL shares. BMO Capital Markets decreased their price target on PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a report on Thursday, February 8th. William Blair reaffirmed an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Friday, January 5th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Finally, Monness Crespi & Hardt cut their price objective on PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Stock Up 0.3 %

PayPal stock traded up $0.21 during midday trading on Friday, reaching $62.31. The company’s stock had a trading volume of 13,170,484 shares, compared to its average volume of 16,580,498. The stock’s 50-day simple moving average is $62.34 and its 200-day simple moving average is $59.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The stock has a market capitalization of $65.59 billion, a P/E ratio of 16.23, a PEG ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 3.93 EPS for the current year.

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.