Salem Capital Management Inc. Buys 3,275 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)
Salem Capital Management Inc. increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,150 shares of the credit services provider’s stock after buying an additional 3,275 shares during the period. Salem Capital Management Inc.’s holdings in PayPal Holdings were worth $1,618,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of PYPL. Thompson Davis & CO. Inc. raised its stake in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after buying an additional 649 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of PayPal Holdings during the first quarter worth $106,000. Carroll Financial Associates Inc. raised its stake in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock worth $108,000 after buying an additional 740 shares in the last quarter. Stelac Advisory Services LLC acquired a new stake in shares of PayPal Holdings during the first quarter worth $119,000. Finally, Clean Yield Group acquired a new stake in shares of PayPal Holdings during the first quarter worth $127,000. Institutional investors and hedge funds own 81.31% of the company’s stock.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.03% during mid-day trading on Friday, hitting $58.04. The company had a trading volume of 6,962,121 shares. The company has a 50-day moving average price of $57.01 and a 200-day moving average price of $48.47. The company has a market capitalization of $69.79 billion, a price-to-earnings ratio of 46.81 and a beta of 0.99. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings declared that its board has authorized a share buyback plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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A number of brokerages have recently weighed in on PYPL. UBS AG reiterated a “neutral” rating and issued a $48.00 price objective (up from $44.00) on shares of PayPal Holdings in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $72.00 price objective (up from $60.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price objective (up from $62.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price objective on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $59.49.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the transaction, the executive vice president now owns 37,491 shares in the company, valued at approximately $1,967,527.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The disclosure for this sale can be found here. Insiders have sold a total of 95,852 shares of company stock valued at $5,653,198 in the last quarter. Company insiders own 6.00% of the company’s stock.
About PayPal Holdings
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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