GLOBALT Investments LLC GA Purchases 318 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

GLOBALT Investments LLC GA raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,405 shares of the credit services provider’s stock after purchasing an additional 318 shares during the period. GLOBALT Investments LLC GA’s holdings in PayPal were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PYPL. AMG National Trust Bank increased its holdings in shares of PayPal by 84.0% in the 3rd quarter. AMG National Trust Bank now owns 6,620 shares of the credit services provider’s stock valued at $517,000 after acquiring an additional 3,023 shares during the period. Equity Investment Corp lifted its position in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the last quarter. Aljian Capital Management LLC bought a new stake in shares of PayPal in the 3rd quarter valued at about $572,000. TrinityPoint Wealth LLC lifted its holdings in shares of PayPal by 10.1% during the 3rd quarter. TrinityPoint Wealth LLC now owns 4,504 shares of the credit services provider’s stock valued at $351,000 after purchasing an additional 415 shares during the last quarter. Finally, S&CO Inc. lifted its holdings in shares of PayPal by 5.2% during the 3rd quarter. S&CO Inc. now owns 180,179 shares of the credit services provider’s stock valued at $14,059,000 after purchasing an additional 8,882 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

NASDAQ:PYPL opened at $84.67 on Tuesday. The company has a market cap of $84.89 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52 week low of $55.28 and a 52 week high of $87.92. The company has a fifty day simple moving average of $79.17 and a two-hundred day simple moving average of $69.16.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business 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%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent analyst reports. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Macquarie lifted their target price on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Fifteen investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Company 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.