General Pension Society PZU Joint Stock Co decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 65.7% during the second quarter, HoldingsChannel.com reports. The firm owned 52,314 shares of the credit services provider’s stock after selling 100,360 shares during the quarter. PayPal makes up about 1.1% of General Pension Society PZU Joint Stock Co’s holdings, making the stock its 16th biggest holding. General Pension Society PZU Joint Stock Co’s holdings in PayPal were worth $3,888,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in PayPal by 15.8% during the 1st quarter. AQR Capital Management LLC now owns 3,501,936 shares of the credit services provider’s stock valued at $224,001,000 after purchasing an additional 476,763 shares during the period. Thompson Investment Management Inc. raised its position in shares of PayPal by 2.8% in the 2nd quarter. Thompson Investment Management Inc. now owns 154,991 shares of the credit services provider’s stock worth $11,519,000 after acquiring an additional 4,165 shares in the last quarter. Kathmere Capital Management LLC bought a new stake in PayPal during the second quarter valued at about $325,000. Allianz SE lifted its position in shares of PayPal by 281.8% during the first quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock valued at $1,980,000 after buying an additional 22,392 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of PayPal in the 1st quarter valued at about $529,264,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.
PayPal Trading Up 1.0%
Shares of PayPal stock opened at $61.83 on Friday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $57.85 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The firm has a fifty day moving average price of $67.23 and a 200 day moving average price of $69.93.
PayPal Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. PayPal’s dividend payout ratio is presently 11.22%.
Insiders Place Their Bets
In related news, EVP Diego Scotti sold 3,838 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $68.97, for a total value of $264,706.86. Following the completion of the sale, the executive vice president owned 16,989 shares of the company’s stock, valued at approximately $1,171,731.33. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Chris Natali sold 1,374 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $69.13, for a total transaction of $94,984.62. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 36,156 shares of company stock worth $2,432,524. Company insiders own 0.08% of the company’s stock.
Analyst Upgrades and Downgrades
PYPL has been the subject of several recent analyst reports. Compass Point reiterated a “sell” rating and set a $66.00 price objective on shares of PayPal in a research note on Wednesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Tuesday, October 28th. Royal Bank Of Canada boosted their target price on PayPal from $88.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group increased their price objective on shares of PayPal from $70.00 to $72.00 and gave the company a “sell” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PayPal in a research note on Wednesday, October 8th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.06.
Get Our Latest Stock Report on PYPL
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.
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