SouthState Bank Corp Lowers Stock Holdings in PayPal Holdings, Inc. $PYPL

SouthState Bank Corp decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,694 shares of the credit services provider’s stock after selling 22,818 shares during the period. SouthState Bank Corp’s holdings in PayPal were worth $3,894,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PYPL. Norges Bank purchased a new stake in PayPal during the fourth quarter valued at about $949,758,000. Vanguard Group Inc. raised its position in PayPal by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock valued at $5,276,205,000 after purchasing an additional 5,534,462 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PayPal by 35.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,177,536 shares of the credit services provider’s stock valued at $548,520,000 after purchasing an additional 2,160,227 shares in the last quarter. Two Sigma Investments LP purchased a new stake in PayPal during the third quarter valued at about $97,794,000. Finally, Invesco Ltd. raised its position in PayPal by 10.9% during the third quarter. Invesco Ltd. now owns 11,131,949 shares of the credit services provider’s stock valued at $746,508,000 after purchasing an additional 1,093,365 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 3.4%

Shares of NASDAQ:PYPL opened at $41.29 on Friday. The stock’s 50-day moving average price is $46.20 and its 200-day moving average price is $50.59. PayPal Holdings, Inc. has a 12-month low of $38.46 and a 12-month high of $79.50. The stock has a market capitalization of $36.42 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 1.03 and a beta of 1.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPLGet Free Report) last posted its earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.PayPal’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.

PayPal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. PayPal’s dividend payout ratio (DPR) is presently 10.51%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America reduced their price objective on PayPal from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed a “market perform” rating on shares of PayPal in a research note on Monday, February 23rd. Loop Capital assumed coverage on PayPal in a research note on Tuesday, March 31st. They set a “hold” rating and a $46.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $42.00 price objective on shares of PayPal in a research note on Wednesday, May 20th. Finally, Wolfe Research reaffirmed a “sell” rating on shares of PayPal in a research note on Monday, February 23rd. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.85.

Get Our Latest Report on PYPL

Insider Buying and Selling

In related news, insider Suzan Kereere sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at $1,325,762.57. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the sale, the insider directly owned 41,567 shares in the company, valued at $1,768,260.18. The trade was a 9.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,612 shares of company stock valued at $966,623 over the last ninety days. 0.63% of the stock is owned by insiders.

Key Stories Impacting PayPal

Here are the key news stories impacting PayPal this week:

About PayPal

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPLFree Report).

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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