Segment Wealth Management LLC Invests $1.73 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Segment Wealth Management LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, HoldingsChannel reports. The firm purchased 22,192 shares of the credit services provider’s stock, valued at approximately $1,732,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors acquired a new stake in shares of PayPal in the second quarter worth about $1,454,000. Cape Cod Five Cents Savings Bank acquired a new stake in shares of PayPal in the second quarter worth $3,014,000. Distillate Capital Partners LLC boosted its holdings in shares of PayPal by 156,934.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after buying an additional 343,687 shares during the period. Fiduciary Alliance LLC boosted its holdings in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PYPL. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Oppenheimer initiated coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Wednesday, September 18th. Finally, BMO Capital Markets boosted their price target on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Sixteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $78.03.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $80.91 on Wednesday. The business has a fifty day moving average of $74.81 and a 200-day moving average of $66.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $82.00. The firm has a market cap of $82.72 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the company posted $0.83 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.44 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.