Johnson Investment Counsel Inc. Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Johnson Investment Counsel Inc. trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,472 shares of the credit services provider’s stock after selling 803 shares during the period. Johnson Investment Counsel Inc.’s holdings in PayPal were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. grew its position in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Verity Asset Management Inc. grew its position in shares of PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares during the last quarter. Indiana Trust & Investment Management CO grew its position in shares of PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after acquiring an additional 184 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI increased their price target on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Robert W. Baird increased their price target on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Mizuho reaffirmed an “outperform” rating and set a $90.00 price target on shares of PayPal in a report on Tuesday, August 20th. Finally, TD Cowen increased their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Eighteen research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Stock Performance

NASDAQ PYPL opened at $70.10 on Friday. The firm has a market capitalization of $71.67 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.99 and a beta of 1.43. The business’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $63.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Equities analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

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.