Meritage Portfolio Management Has $10.48 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Meritage Portfolio Management reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,263 shares of the credit services provider’s stock after selling 995 shares during the quarter. Meritage Portfolio Management’s holdings in PayPal were worth $10,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Financial Management Professionals Inc. raised its stake in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the last quarter. Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC lifted its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. LRI Investments LLC bought a new stake in shares of PayPal in the 1st quarter worth $34,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

NASDAQ PYPL traded up $1.66 during trading on Friday, reaching $83.01. The company’s stock had a trading volume of 8,144,180 shares, compared to its average volume of 13,546,967. The firm has a fifty day moving average of $77.37 and a 200 day moving average of $68.28. PayPal Holdings, Inc. has a one year low of $53.87 and a one year high of $83.70. The stock has a market capitalization of $83.22 billion, a PE ratio of 19.81, a P/E/G ratio of 1.45 and a beta of 1.43. 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 (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm posted $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PYPL. Jefferies Financial Group cut their price target on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Susquehanna increased their price target on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt upped their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Morgan Stanley raised their target price on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Macquarie boosted their price target on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal 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.