Northwest Investment Counselors LLC Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Northwest Investment Counselors LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,776 shares of the credit services provider’s stock after selling 494 shares during the quarter. Northwest Investment Counselors LLC’s holdings in PayPal were worth $119,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of PayPal by 1.3% during the 1st quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock valued at $5,863,681,000 after buying an additional 962,329 shares during the period. State Street Corp raised its holdings in shares of PayPal by 2.7% during the 1st quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after buying an additional 1,202,956 shares during the period. Geode Capital Management LLC raised its holdings in shares of PayPal by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after buying an additional 235,651 shares during the period. Morgan Stanley raised its holdings in shares of PayPal by 12.0% during the 4th quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock valued at $1,321,849,000 after buying an additional 1,995,271 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after buying an additional 17,120,572 shares during the period. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PYPL. Jefferies Financial Group raised their target price on PayPal from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on PayPal from $100.00 to $80.00 in a report on Friday, June 9th. Mizuho restated a “buy” rating and set a $92.00 price objective on shares of PayPal in a report on Friday. Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of PayPal in a report on Thursday, August 3rd. Finally, Canaccord Genuity Group dropped their price objective on PayPal from $160.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.48.

PayPal Stock Down 0.4 %

PYPL opened at $64.21 on Monday. PayPal Holdings, Inc. has a one year low of $57.29 and a one year high of $95.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s fifty day moving average is $66.04 and its 200-day moving average is $68.34. The company has a market capitalization of $70.51 billion, a PE ratio of 17.94, a P/E/G ratio of 0.97 and a beta of 1.34.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 EPS for the quarter, hitting analysts’ consensus estimates of $1.16. The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, 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.