GM Advisory Group LLC Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

GM Advisory Group LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,375 shares of the credit services provider’s stock after selling 11,356 shares during the quarter. GM Advisory Group LLC’s holdings in PayPal were worth $1,995,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. American National Bank purchased a new position in PayPal in the first quarter valued at $27,000. Family Firm Inc. acquired a new position in shares of PayPal in the second quarter worth about $29,000. SYSTM Wealth Solutions LLC boosted 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 worth $29,000 after acquiring an additional 167 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of PayPal during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 6.1 %

Shares of NASDAQ PYPL opened at $77.57 on Friday. The company has a market capitalization of $81.14 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $78.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day simple moving average of $66.68 and a 200-day simple moving average of $64.26.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Monness Crespi & Hardt upped their price target on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen upped their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Thursday. Susquehanna boosted their price target on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Seventeen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.58.

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.