Matrix Asset Advisors Inc. NY Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Matrix Asset Advisors Inc. NY trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,063 shares of the credit services provider’s stock after selling 10,245 shares during the period. PayPal accounts for about 2.0% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 20th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in PayPal were worth $18,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Revolve Wealth Partners LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $248,000. Cascade Investment Advisors Inc. boosted its stake in PayPal by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 23,825 shares of the credit services provider’s stock worth $2,033,000 after buying an additional 155 shares during the last quarter. BankPlus Wealth Management LLC purchased a new position in shares of PayPal during the 4th quarter worth $262,000. Lebenthal Global Advisors LLC grew its holdings in shares of PayPal by 309.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 19,807 shares of the credit services provider’s stock valued at $1,691,000 after purchasing an additional 14,965 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in PayPal by 4.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,431 shares of the credit services provider’s stock valued at $378,000 after purchasing an additional 188 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Up 1.3 %

PYPL stock opened at $90.24 on Tuesday. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66. The company has a market cap of $90.47 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. The company has a fifty day moving average price of $87.76 and a 200 day moving average price of $78.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird boosted their price target on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Mizuho upped their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Monness Crespi & Hardt lifted their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

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.