Pinnacle Wealth Management Group Inc. Acquires New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pinnacle Wealth Management Group Inc. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, Holdings Channel reports. The institutional investor bought 2,814 shares of the credit services provider’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new stake in PayPal in the first quarter valued at $27,000. Family Firm Inc. acquired a new position in shares of PayPal during the second quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of PayPal in the 1st quarter worth about $30,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Up 1.9 %

NASDAQ PYPL traded up $1.53 on Friday, reaching $80.51. The stock had a trading volume of 7,744,777 shares, compared to its average volume of 13,838,300. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.00. The business has a 50 day moving average price of $72.42 and a 200 day moving average price of $66.13. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $82.31 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PYPL. BMO Capital Markets boosted their target price on shares of PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Mizuho reissued an “outperform” rating and issued a $90.00 price objective on shares of PayPal in a report on Tuesday, August 20th. Susquehanna lifted their target price on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $84.00 price target on shares of PayPal in a report on Wednesday, July 31st. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.47.

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.