Empower Advisory Group LLC Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Empower Advisory Group LLC increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,112,169 shares of the credit services provider’s stock after acquiring an additional 44,199 shares during the period. Empower Advisory Group LLC owned approximately 0.11% of PayPal worth $86,783,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PYPL. Financial Management Professionals Inc. grew its stake in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of PayPal in the second quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its stake in shares of 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 buying an additional 167 shares during the period. LRI Investments LLC acquired a new stake in PayPal during the 1st quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC grew 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 valued at $30,000 after acquiring an additional 465 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $86.40 on Wednesday. The company’s 50-day moving average is $77.67 and its 200 day moving average is $68.49. PayPal Holdings, Inc. has a fifty-two week low of $53.98 and a fifty-two week high of $87.92. The company has a market capitalization of $86.62 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Ratings Changes

PYPL has been the subject of several analyst reports. TD Cowen boosted their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Macquarie boosted their price objective on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Fifteen investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.45.

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.