Institute for Wealth Management LLC. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Institute for Wealth Management LLC. lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,776 shares of the credit services provider’s stock after selling 1,370 shares during the period. Institute for Wealth Management LLC.’s holdings in PayPal were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC increased its stake in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of PayPal during the third quarter worth about $387,435,000. United Advisor Group LLC acquired a new stake in shares of PayPal in the 3rd quarter valued at about $810,000. FCG Investment Co acquired a new stake in PayPal during the 3rd quarter worth $1,079,000. Finally, Equity Investment Corp increased its stake in PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PYPL shares. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

PayPal Stock Performance

PayPal stock opened at $89.57 on Friday. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $89.80 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The stock has a 50 day moving average of $88.04 and a 200-day moving average of $78.53.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

PayPal 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.