Abacus Planning Group Inc. Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Abacus Planning Group Inc. cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,534 shares of the credit services provider’s stock after selling 129 shares during the quarter. Abacus Planning Group Inc.’s holdings in PayPal were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its stake in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after buying an additional 10,419,351 shares in the last quarter. Primecap Management Co. CA lifted its stake in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after buying an additional 1,069,356 shares in the last quarter. World Investment Advisors LLC purchased a new position in PayPal in the 3rd quarter valued at about $387,435,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

NASDAQ:PYPL opened at $78.36 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $77.52 billion, a P/E ratio of 19.54, a PEG ratio of 1.28 and a beta of 1.44. The company has a 50 day moving average price of $85.98 and a 200 day moving average price of $80.56. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $1.48 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PYPL. Citigroup raised their price target on shares of PayPal from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their price objective on shares of PayPal from $90.00 to $79.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Susquehanna increased their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.52.

PayPal Company 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.