Armstrong Advisory Group Inc. Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Armstrong Advisory Group Inc. lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 505 shares of the credit services provider’s stock after selling 375 shares during the period. Armstrong Advisory Group Inc.’s holdings in PayPal were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PayPal by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after purchasing an additional 138,875 shares during the last quarter. Dakota Wealth Management boosted its holdings in PayPal by 8.6% in the first quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after purchasing an additional 387 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in PayPal by 15.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock valued at $793,000 after purchasing an additional 918 shares during the last quarter. Covestor Ltd boosted its holdings in PayPal by 136.1% in the first quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 769 shares during the last quarter. Finally, Donaldson Capital Management LLC boosted its holdings in PayPal by 5.3% in the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on PYPL shares. StockNews.com started coverage on PayPal in a report on Thursday, August 17th. They set a “hold” rating on the stock. Atlantic Securities downgraded PayPal from an “overweight” rating to a “neutral” rating and set a $72.00 target price on the stock. in a report on Tuesday, June 13th. Deutsche Bank Aktiengesellschaft reduced their target price on PayPal from $100.00 to $80.00 in a report on Friday, June 9th. Sanford C. Bernstein reduced their target price on PayPal from $85.00 to $70.00 in a report on Monday, May 22nd. Finally, Morgan Stanley reduced their target price on PayPal from $133.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.03.

PayPal Stock Performance

PYPL opened at $64.44 on Friday. The firm has a market cap of $70.76 billion, a PE ratio of 18.00, a P/E/G ratio of 0.95 and a beta of 1.34. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $66.09 and a 200-day simple moving average of $68.48. PayPal Holdings, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $98.98.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. The business had revenue of $7.29 billion during the quarter, compared to analyst estimates of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. As a group, equities analysts predict that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal 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.