Meridian Wealth Management LLC Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Meridian Wealth Management LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,499 shares of the credit services provider’s stock after buying an additional 1,652 shares during the quarter. Meridian Wealth Management LLC’s holdings in PayPal were worth $741,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PYPL. Bruce G. Allen Investments LLC boosted its position in shares of PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares in the last quarter. First United Bank & Trust grew its stake in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% in the 2nd 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 in the last quarter. Finally, First Bank & Trust grew its position in PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after purchasing an additional 171 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PYPL has been the topic of several analyst reports. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. BMO Capital Markets lifted their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Stock Up 2.3 %

Shares of NASDAQ:PYPL opened at $86.77 on Friday. The firm has a market capitalization of $86.99 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The business has a 50 day simple moving average of $80.41 and a two-hundred day simple moving average of $69.68. PayPal Holdings, Inc. has a 1 year low of $55.55 and a 1 year high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the business earned $0.97 EPS. PayPal’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

About PayPal

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.