Integrated Wealth Concepts LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 44.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,302 shares of the credit services provider’s stock after acquiring an additional 7,726 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in PayPal were worth $1,921,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Arlington Partners LLC acquired a new position in PayPal in the 4th quarter worth approximately $27,000. RFP Financial Group LLC acquired a new position in PayPal in the 4th quarter worth approximately $27,000. Capital Directions Investment Advisors LLC acquired a new position in PayPal in the 4th quarter worth approximately $29,000. Resurgent Financial Advisors LLC acquired a new position in PayPal in the 4th quarter worth approximately $29,000. Finally, Corrado Advisors LLC acquired a new position in PayPal in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group restated a “neutral” rating and issued a $80.00 price objective on shares of PayPal in a research report on Monday, July 24th. Royal Bank of Canada lowered their price objective on PayPal from $96.00 to $86.00 in a research report on Wednesday, June 7th. Susquehanna lowered their price objective on PayPal from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 9th. Finally, Oppenheimer lowered their price objective on PayPal from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.03.
PayPal Stock Up 2.7 %
PayPal (NASDAQ:PYPL – Get Free Report) last issued its earnings results on Monday, May 8th. The credit services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. PayPal had a return on equity of 19.34% and a net margin of 9.63%. The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period last year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 3.86 EPS for the current year.
About PayPal
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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