PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,514 shares of the credit services provider’s stock after purchasing an additional 6,700 shares during the quarter. PayPal accounts for 1.8% of Old North State Wealth Management LLC’s holdings, making the stock its 20th largest holding. Old North State Wealth Management LLC’s holdings in PayPal were worth $3,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Forum Financial Management LP boosted its position in shares of PayPal by 11.2% during the 3rd quarter. Forum Financial Management LP now owns 5,699 shares of the credit services provider’s stock worth $445,000 after acquiring an additional 572 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of PayPal by 139.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after acquiring an additional 899,476 shares in the last quarter. Westbourne Investment Advisors Inc. acquired a new position in shares of PayPal during the 3rd quarter worth about $211,000. First National Bank Sioux Falls acquired a new position in shares of PayPal during the 3rd quarter worth about $234,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $213,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PYPL shares. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Susquehanna boosted their target price on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Stephens upped their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Stock Performance

NASDAQ PYPL opened at $77.25 on Monday. PayPal Holdings, Inc. has a 1-year low of $52.55 and a 1-year high of $83.70. The company has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.43. The business has a 50 day moving average price of $76.50 and a 200 day moving average price of $67.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

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.