PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Increased by Capital Investment Counsel Inc

Capital Investment Counsel Inc increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,004 shares of the credit services provider’s stock after purchasing an additional 1,575 shares during the quarter. Capital Investment Counsel Inc’s holdings in PayPal were worth $2,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. American National Bank bought a new position in PayPal in the first quarter worth about $27,000. Private Wealth Management Group LLC acquired a new position in PayPal in the fourth quarter valued at approximately $29,000. Register Financial Advisors LLC bought a new position in shares of PayPal during the first quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PYPL. Evercore ISI upped their price objective on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $78.00 in a research report on Wednesday, July 31st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup upped their target price on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $72.00 in a report on Friday, August 9th. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Up 3.5 %

Shares of PYPL stock traded up $2.46 on Tuesday, hitting $71.89. The company’s stock had a trading volume of 23,521,986 shares, compared to its average volume of 14,511,910. The stock has a market capitalization of $73.50 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 0.94 and a beta of 1.42. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $72.56. The firm’s fifty day moving average price is $61.41 and its 200-day moving average price is $62.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

PayPal 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.