Granite Bay Wealth Management LLC Purchases Shares of 16,432 PayPal Holdings, Inc. (NASDAQ:PYPL)

Granite Bay Wealth Management LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,432 shares of the credit services provider’s stock, valued at approximately $1,043,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Pittenger & Anderson Inc. increased its holdings 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 worth $26,000 after buying an additional 172 shares during the last quarter. American National Bank bought a new position in PayPal during the first quarter valued at $27,000. Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal in the first quarter worth about $30,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 0.2 %

Shares of NASDAQ PYPL opened at $78.03 on Tuesday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $80.63. The company has a market capitalization of $79.77 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a 50 day simple moving average of $69.12 and a 200-day simple moving average of $65.21. 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 (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the firm earned $0.83 EPS. PayPal’s 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.

Analyst Ratings Changes

A number of research firms recently weighed in on PYPL. Citigroup upped their price objective on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research note on Thursday, September 19th. UBS Group boosted their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Barclays raised their target price on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $76.38.

PayPal Company 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.