60,057 PayPal Holdings, Inc. $PYPL Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,511 shares of the credit services provider’s stock after selling 60,057 shares during the period. Douglas Lane & Associates LLC’s holdings in PayPal were worth $14,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. Formidable Asset Management LLC raised its stake in shares of PayPal by 0.8% in the 1st quarter. Formidable Asset Management LLC now owns 25,937 shares of the credit services provider’s stock valued at $1,173,000 after acquiring an additional 205 shares in the last quarter. KPP Advisory Services LLC lifted its stake in shares of PayPal by 3.3% in the first quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock worth $300,000 after buying an additional 214 shares during the last quarter. ACT Wealth Management LLC boosted its holdings in shares of PayPal by 1.2% during the 3rd quarter. ACT Wealth Management LLC now owns 17,783 shares of the credit services provider’s stock worth $934,000 after buying an additional 215 shares during the period. Jackson Thornton Wealth Management LLC boosted its holdings in shares of PayPal by 3.5% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 7,110 shares of the credit services provider’s stock worth $322,000 after buying an additional 238 shares during the period. Finally, Earned Wealth Advisors LLC raised its holdings in PayPal by 2.0% in the 1st quarter. Earned Wealth Advisors LLC now owns 12,608 shares of the credit services provider’s stock worth $570,000 after acquiring an additional 248 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL traded up $0.35 during midday trading on Friday, reaching $55.37. 6,803,617 shares of the company’s stock were exchanged, compared to its average volume of 17,561,889. The company’s 50 day simple moving average is $56.26 and its two-hundred day simple moving average is $50.10. The firm has a market capitalization of $47.37 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.47 billion. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 4th. PayPal’s dividend payout ratio (DPR) is 10.59%.

Insider Buying and Selling at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the transaction, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. The trade was a 37.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $55.43, for a total value of $255,643.16. Following the completion of the sale, the insider owned 41,567 shares of the company’s stock, valued at approximately $2,304,058.81. This trade represents a 9.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,774 shares of company stock valued at $848,095. 0.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on PayPal from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Robert W. Baird raised their target price on PayPal from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Citigroup upped their price target on PayPal from $48.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley set a $45.00 price objective on shares of PayPal in a research note on Wednesday, July 29th. Finally, William Blair reaffirmed a “market perform” rating on shares of PayPal in a research report on Wednesday, July 15th. Nine research analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PayPal has a consensus rating of “Hold” and a consensus target price of $56.28.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, digital wallets, and payment processing for merchants.

The company’s principal consumer brands include PayPal and Venmo, while its merchant and commerce offerings include Braintree, PayPal Zettle, and PayPal Complete Payments. PayPal also operates Xoom, a service for international money transfers, and Honey, a shopping and rewards platform.