Global Wealth Management Investment Advisory Inc. Buys Shares of 27,020 PayPal Holdings, Inc. (NASDAQ:PYPL)

Global Wealth Management Investment Advisory Inc. purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,020 shares of the credit services provider’s stock, valued at approximately $2,306,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bristlecone Advisors LLC boosted its stake in PayPal by 17.4% during the fourth quarter. Bristlecone Advisors LLC now owns 50,124 shares of the credit services provider’s stock worth $4,278,000 after buying an additional 7,420 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of PayPal by 10.3% in the 4th quarter. Soltis Investment Advisors LLC now owns 2,849 shares of the credit services provider’s stock worth $243,000 after acquiring an additional 267 shares during the last quarter. Elevate Capital Advisors LLC purchased a new position in shares of PayPal during the 4th quarter worth approximately $1,930,000. Savant Capital LLC increased its holdings in PayPal by 147.0% in the 4th quarter. Savant Capital LLC now owns 54,072 shares of the credit services provider’s stock valued at $4,615,000 after purchasing an additional 32,183 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in PayPal by 15.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 66,474 shares of the credit services provider’s stock valued at $5,674,000 after purchasing an additional 9,039 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research reports. UBS Group lifted their price objective on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $90.45.

PayPal Stock Performance

NASDAQ PYPL opened at $77.31 on Monday. The firm has a market cap of $76.48 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.29 and a beta of 1.44. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66. The business’s 50-day moving average price is $87.52 and its 200 day moving average price is $79.63. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share 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 the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share 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.