KMG Fiduciary Partners LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

KMG Fiduciary Partners LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,279 shares of the credit services provider’s stock after selling 1,188 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in PayPal were worth $3,523,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after buying an additional 10,419,351 shares in the last quarter. Legal & General Group Plc grew its holdings in PayPal by 3.3% in the 2nd 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 grew its holdings in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after buying an additional 1,069,356 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Down 0.8 %

PayPal stock opened at $88.92 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The company has a market cap of $89.15 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. The stock’s 50 day moving average price is $87.08 and its 200 day moving average price is $76.40.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Barclays upped their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Friday, December 13th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.32.

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.