Fragasso Financial Advisors Inc Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fragasso Financial Advisors Inc cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,667 shares of the credit services provider’s stock after selling 3,423 shares during the period. Fragasso Financial Advisors Inc’s holdings in PayPal were worth $2,788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. FMR LLC lifted its holdings in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC purchased a new position in PayPal in the 3rd quarter valued at about $387,435,000. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Down 0.0 %

Shares of PayPal stock traded down $0.01 on Monday, hitting $83.35. 3,831,465 shares of the company’s stock traded hands, compared to its average volume of 6,956,789. The stock has a market cap of $83.56 billion, a P/E ratio of 19.89, a PEG ratio of 1.66 and a beta of 1.44. 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 firm’s 50-day moving average is $86.64 and its 200 day moving average is $75.92. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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 return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PYPL. Keefe, Bruyette & Woods upped their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Stephens upped their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 price objective on shares of PayPal in a research note on Friday, November 22nd. Finally, Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.65.

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.