Whittier Trust Co. Has $564,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Whittier Trust Co. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,718 shares of the credit services provider’s stock after selling 3,244 shares during the period. Whittier Trust Co.’s holdings in PayPal were worth $564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank acquired a new position in PayPal in the 1st quarter valued at about $27,000. Register Financial Advisors LLC bought a new position in PayPal in the 1st quarter valued at about $30,000. CarsonAllaria Wealth Management Ltd. lifted its position in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new stake in shares of PayPal during the fourth quarter worth approximately $29,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PYPL shares. Mizuho reissued an “outperform” rating and set a $90.00 price target on shares of PayPal in a report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Finally, Barclays lifted their price target on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Performance

Shares of PYPL stock traded up $2.94 during trading hours on Thursday, hitting $73.37. 5,407,476 shares of the company were exchanged, compared to its average volume of 14,284,869. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $62.71 and a 200 day simple moving average of $62.92. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $73.47. The stock has a market capitalization of $76.75 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 0.97 and a beta of 1.42.

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