Capital Investment Counsel Inc Has $2.03 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Capital Investment Counsel Inc increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,004 shares of the credit services provider’s stock after purchasing an additional 1,575 shares during the quarter. Capital Investment Counsel Inc’s holdings in PayPal were worth $2,031,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Pittenger & Anderson Inc. raised its holdings in 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 buying an additional 172 shares during the last quarter. American National Bank acquired a new position in PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in PayPal during the fourth quarter worth $29,000. Register Financial Advisors LLC bought a new position in shares of PayPal during the 1st quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in PayPal by 65.8% in 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 in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. JMP Securities boosted their price objective on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 1st. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Mizuho reiterated an “outperform” rating and set a $90.00 price target on shares of PayPal in a research report on Tuesday. Finally, Stephens increased their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.56.

Insider Activity

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Trading Up 3.5 %

NASDAQ PYPL traded up $2.46 during trading on Tuesday, hitting $71.89. The company had a trading volume of 23,521,986 shares, compared to its average volume of 14,511,910. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $72.56. The company’s fifty day moving average is $61.41 and its 200-day moving average is $62.48. The company has a market cap of $73.50 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.