Meridian Wealth Management LLC Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Meridian Wealth Management LLC raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.1% in the third quarter, HoldingsChannel reports. The firm owned 9,499 shares of the credit services provider’s stock after acquiring an additional 1,652 shares during the period. Meridian Wealth Management LLC’s holdings in PayPal were worth $741,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC raised its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. Planning Capital Management Corp boosted its stake in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in PayPal during the first quarter valued at approximately $34,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL stock opened at $86.77 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 12-month low of $55.55 and a 12-month high of $87.92. The business’s 50 day moving average is $80.41 and its two-hundred day moving average is $69.68. The company has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.51 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. Analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PYPL shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a report on Wednesday, September 18th. Canaccord Genuity Group raised their price objective on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Phillip Securities reissued an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Profile

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.