OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 49.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,515 shares of the credit services provider’s stock after selling 11,086 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PayPal were worth $775,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Brighton Jones LLC grew its position in PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in PayPal during the 4th quarter worth approximately $248,000. Beacon Financial Group acquired a new position in PayPal during the 2nd quarter worth approximately $225,000. Aaron Wealth Advisors LLC lifted its stake in PayPal by 5.5% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,796 shares of the credit services provider’s stock valued at $431,000 after purchasing an additional 303 shares during the last quarter. Finally, Sapient Capital LLC boosted its position in PayPal by 2.5% in the second quarter. Sapient Capital LLC now owns 11,153 shares of the credit services provider’s stock valued at $829,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.
PayPal Stock Performance
Shares of PYPL stock opened at $56.74 on Friday. The stock has a market capitalization of $53.09 billion, a PE ratio of 11.37, a PEG ratio of 0.71 and a beta of 1.42. The business’s 50 day simple moving average is $60.75 and its 200 day simple moving average is $66.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.25.
PayPal Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, November 19th. PayPal’s dividend payout ratio (DPR) is presently 11.22%.
Insiders Place Their Bets
In other news, CAO Chris Natali sold 1,374 shares of PayPal stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $69.13, for a total value of $94,984.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diego Scotti sold 3,838 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $68.97, for a total value of $264,706.86. Following the sale, the executive vice president owned 16,989 shares in the company, valued at approximately $1,171,731.33. The trade was a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,156 shares of company stock valued at $2,432,524. Insiders own 0.08% of the company’s stock.
More PayPal News
Here are the key news stories impacting PayPal this week:
- Neutral Sentiment: Piper Sandler trimmed its price target to $74 from $76 while keeping a “neutral” rating; the new target still implies material upside versus the current price. Piper Sandler PT cut
- Neutral Sentiment: Benzinga published an analyst-ratings roundup summarizing where PayPal stands with analysts (useful context on consensus views and divergent targets). Where PayPal Stands With Analysts
- Neutral Sentiment: Macroeconomic/regulatory risk: a proposed California “billionaires’ tax” is receiving attention in tech circles and could influence wealth-location decisions of founders and large shareholders (indirect and longer-term risk). Proposed billionaires’ tax in California
- Negative Sentiment: TD Cowen cut its price target sharply to $65 (from $80) and maintained a “hold” rating — a notable downward revision that reduces implied upside and likely pressured the stock. TD Cowen PT cut
- Negative Sentiment: Compass Point trimmed its target to $55 from $56 and kept a “sell” rating, signaling continued bearish conviction from that shop and adding selling pressure. Compass Point PT cut
- Negative Sentiment: Daiwa/America downgraded PayPal (reports cite a move from stronger ratings toward “hold”), joining the cluster of firms reducing enthusiasm and amplifying near-term downside risk. Daiwa downgrade
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PYPL. Macquarie increased their price target on PayPal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Piper Sandler cut their price target on PayPal from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday. Compass Point reduced their price target on PayPal from $56.00 to $55.00 and set a “sell” rating on the stock in a report on Tuesday. Daiwa Capital Markets downgraded PayPal from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $61.00 in a research note on Tuesday. Finally, Argus raised their price objective on shares of PayPal from $81.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating, twenty-seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.36.
Check Out Our Latest Research Report on PYPL
About PayPal
PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.
Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.
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