Fifth Third Wealth Advisors LLC Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fifth Third Wealth Advisors LLC grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 11,471 shares of the credit services provider’s stock after buying an additional 519 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in PayPal were worth $895,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PYPL. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC grew its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its position in PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the last quarter. Planning Capital Management Corp lifted its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of PayPal in the 1st quarter worth $34,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 0.7 %

Shares of PayPal stock opened at $84.09 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $84.30 billion, a P/E ratio of 20.07, a PEG ratio of 1.53 and a beta of 1.43. The firm’s 50 day moving average price is $79.47 and its 200-day moving average price is $69.29. PayPal Holdings, Inc. has a 52-week low of $55.28 and a 52-week high of $87.92.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PYPL shares. Robert W. Baird increased their price target on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their price target on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fifteen research 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, the company currently 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.