Hohimer Wealth Management LLC Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Hohimer Wealth Management LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 965.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,866 shares of the credit services provider’s stock after buying an additional 56,964 shares during the period. Hohimer Wealth Management LLC’s holdings in PayPal were worth $3,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PYPL. Norges Bank acquired a new position in PayPal in the 4th quarter valued at about $749,561,000. Clearbridge Investments LLC grew its position in shares of PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the period. First Trust Advisors LP lifted its position in PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after buying an additional 61,384 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of PayPal by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock valued at $177,541,000 after acquiring an additional 306,613 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

NASDAQ PYPL traded down $1.13 during trading hours on Thursday, hitting $71.48. The company had a trading volume of 5,085,462 shares, compared to its average volume of 14,181,332. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $73.08 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.10. The business has a fifty day simple moving average of $64.01 and a 200-day simple moving average of $63.39.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $71.00 to $78.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Monness Crespi & Hardt lifted their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Eighteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

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.