Hartford Investment Management Co. Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Hartford Investment Management Co. cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,972 shares of the credit services provider’s stock after selling 2,379 shares during the period. Hartford Investment Management Co.’s holdings in PayPal were worth $5,289,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its position in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the third quarter valued at about $26,000. Sugarloaf Wealth Management LLC increased its position in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL opened at $76.21 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. The stock has a market capitalization of $75.39 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.29 and a beta of 1.44. The company’s fifty day moving average is $87.35 and its two-hundred day moving average is $79.93. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Robert W. Baird dropped their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, Monness Crespi & Hardt lifted their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

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.