Pinnacle Wealth Management Group Inc. Makes New $220,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pinnacle Wealth Management Group Inc. acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,814 shares of the credit services provider’s stock, valued at approximately $220,000.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 1.9 %

PYPL traded up $1.53 on Friday, reaching $80.51. The company’s stock had a trading volume of 7,744,777 shares, compared to its average volume of 13,838,300. The business’s 50 day moving average is $72.42 and its 200 day moving average is $66.13. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.00. The stock has a market cap of $82.31 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. 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 results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PYPL. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research report on Thursday, September 19th. Barclays lifted their price objective on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Evercore ISI increased their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $76.47.

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.