Icon Wealth Advisors LLC Has $273,000 Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Icon Wealth Advisors LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,500 shares of the credit services provider’s stock after selling 2,536 shares during the quarter. Icon Wealth Advisors LLC’s holdings in PayPal were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Allen Capital Group LLC boosted its stake in PayPal by 8.2% in the 3rd quarter. Allen Capital Group LLC now owns 28,808 shares of the credit services provider’s stock valued at $2,248,000 after purchasing an additional 2,191 shares during the period. AlphaCore Capital LLC lifted its holdings in shares of PayPal by 24.4% during the third quarter. AlphaCore Capital LLC now owns 5,309 shares of the credit services provider’s stock worth $414,000 after buying an additional 1,042 shares in the last quarter. First County Bank CT boosted its position in shares of PayPal by 14.2% in the third quarter. First County Bank CT now owns 7,951 shares of the credit services provider’s stock valued at $620,000 after acquiring an additional 990 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of PayPal in the third quarter valued at about $4,951,000. Finally, John G Ullman & Associates Inc. increased its position in PayPal by 4.5% during the third quarter. John G Ullman & Associates Inc. now owns 46,180 shares of the credit services provider’s stock worth $3,603,000 after acquiring an additional 1,995 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

NASDAQ:PYPL opened at $86.77 on Friday. The firm 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 Holdings, Inc. has a twelve month low of $55.55 and a twelve month high of $87.92. The company has a fifty day moving average of $80.41 and a 200-day moving average of $69.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

About PayPal

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.