Hedeker Wealth LLC Continues to Hold Stake in PayPal Holdings, Inc. (PYPL)
Hedeker Wealth LLC maintained its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,310 shares of the credit services provider’s stock at the close of the second quarter. Hedeker Wealth LLC’s holdings in PayPal Holdings were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of PYPL. BlackRock Inc. boosted its position in PayPal Holdings by 2,792.8% during the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock valued at $2,585,670,000 after purchasing an additional 58,026,239 shares during the last quarter. FMR LLC boosted its position in PayPal Holdings by 28.2% during the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after purchasing an additional 13,296,056 shares during the last quarter. American Century Companies Inc. boosted its position in PayPal Holdings by 100.7% during the second quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock valued at $433,688,000 after purchasing an additional 4,054,993 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in PayPal Holdings during the first quarter valued at approximately $116,856,000. Finally, Vanguard Group Inc. boosted its position in PayPal Holdings by 3.5% during the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after purchasing an additional 2,549,683 shares during the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.
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PYPL has been the subject of several recent research reports. Credit Suisse Group reissued an “outperform” rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Zacks Investment Research raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, July 19th. BidaskClub raised PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Stifel Nicolaus cut PayPal Holdings from a “buy” rating to a “hold” rating and reduced their price target for the company from $51.05 to $51.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Finally, Craig Hallum set a $65.00 price target on PayPal Holdings and gave the company a “buy” rating in a research report on Wednesday, June 28th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. PayPal Holdings currently has an average rating of “Buy” and an average target price of $60.78.
PayPal Holdings, Inc. (NASDAQ PYPL) opened at 64.63 on Friday. The company has a market cap of $77.71 billion, a price-to-earnings ratio of 52.12 and a beta of 0.98. PayPal Holdings, Inc. has a 52 week low of $38.06 and a 52 week high of $64.95. The stock has a 50 day moving average price of $62.68 and a 200 day moving average price of $62.68.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion for 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 business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.83 earnings per share for the current year.
In other news, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the transaction, the director now owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,702 shares of company stock worth $15,375,804. 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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