Appleton Partners Inc. MA Raises Stake in PayPal Holdings, Inc. (PYPL)
Appleton Partners Inc. MA boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 169,373 shares of the credit services provider’s stock after buying an additional 166 shares during the period. PayPal Holdings comprises approximately 1.5% of Appleton Partners Inc. MA’s portfolio, making the stock its 11th largest position. Appleton Partners Inc. MA’s holdings in PayPal Holdings were worth $9,090,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock valued at $627,000 after buying an additional 10,250 shares during the last quarter. Comerica Bank increased its position in PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock valued at $21,999,000 after buying an additional 10,270 shares during the last quarter. Clean Yield Group bought a new position in PayPal Holdings during the first quarter valued at $127,000. Checchi Capital Advisers LLC increased its position in PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock valued at $555,000 after buying an additional 1,025 shares during the last quarter. Finally, Good Life Advisors LLC bought a new position in PayPal Holdings during the first quarter valued at $248,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
PayPal Holdings, Inc. (NASDAQ PYPL) traded up 1.10% during trading on Tuesday, hitting $59.71. The stock had a trading volume of 2,033,389 shares. The company has a market cap of $71.80 billion, a PE ratio of 48.15 and a beta of 0.99. PayPal Holdings, Inc. has a 52 week low of $36.30 and a 52 week high of $61.30. The stock has a 50-day moving average price of $57.14 and a 200-day moving average price of $48.69.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings announced that its board has authorized a stock buyback program on Wednesday, April 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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A number of equities research analysts have recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research report on Friday, April 28th. BidaskClub raised PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a research report on Sunday, April 23rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research report on Saturday, April 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. PayPal Holdings presently has a consensus rating of “Buy” and a consensus target price of $59.49.
In other news, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the sale, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the sale, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,852 shares of company stock valued at $15,543,798. Corporate insiders own 6.00% of the company’s stock.
About PayPal Holdings
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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