First County Bank CT Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

First County Bank CT trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,079 shares of the credit services provider’s stock after selling 872 shares during the quarter. First County Bank CT’s holdings in PayPal were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Bruce G. Allen Investments LLC lifted its stake in PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares during the last quarter. First United Bank & Trust grew its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after acquiring an additional 152 shares during the period. Laraway Financial Advisors Inc increased its holdings in PayPal by 3.8% during the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC raised its holdings 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 valued at $29,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PYPL shares. Macquarie lifted their price target on shares of PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Friday, December 13th. Oppenheimer began coverage on PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average price target of $88.65.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded down $1.54 during mid-day trading on Tuesday, reaching $87.99. 3,501,959 shares of the company traded hands, compared to its average volume of 5,896,234. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The firm has a market cap of $88.21 billion, a PE ratio of 21.00, a PEG ratio of 1.66 and a beta of 1.44. The company’s 50 day moving average price is $85.99 and its 200-day moving average price is $75.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the firm earned $0.97 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

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.