Empowered Funds LLC Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Empowered Funds LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 36.2% during the third quarter, HoldingsChannel.com reports. The firm owned 133,871 shares of the credit services provider’s stock after selling 75,852 shares during the quarter. Empowered Funds LLC’s holdings in PayPal were worth $10,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PYPL. Kingsview Wealth Management LLC lifted its stake in shares of PayPal by 14.9% during the first quarter. Kingsview Wealth Management LLC now owns 24,597 shares of the credit services provider’s stock worth $1,648,000 after purchasing an additional 3,183 shares in the last quarter. M&G Plc purchased a new position in PayPal in the 1st quarter worth approximately $14,715,000. First Foundation Advisors acquired a new stake in PayPal in the first quarter valued at approximately $147,000. Pinnacle Wealth Planning Services Inc. raised its stake in shares of PayPal by 10.6% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 7,634 shares of the credit services provider’s stock valued at $511,000 after purchasing an additional 731 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of PayPal by 315.6% during the first quarter. Intech Investment Management LLC now owns 27,872 shares of the credit services provider’s stock worth $1,867,000 after purchasing an additional 21,166 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Up 0.0 %

PYPL opened at $85.83 on Friday. 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 Holdings, Inc. has a 12 month low of $55.28 and a 12 month high of $87.92. The stock’s 50 day moving average price is $78.86 and its 200 day moving average price is $69.01. The stock has a market cap of $86.05 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley lifted their price objective on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Company Profile

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.