Guinness Asset Management Ltd held its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, Holdings Channel reports. The fund owned 69,490 shares of the credit services provider’s stock at the end of the second quarter. Guinness Asset Management Ltd’s holdings in PayPal Holdings were worth $3,730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after buying an additional 2,549,683 shares during the period. FMR LLC increased its stake in PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares during the period. BlackRock Inc. increased its stake in PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock valued at $2,585,670,000 after buying an additional 58,026,239 shares during the period. Edgewood Management LLC increased its stake in PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after buying an additional 663,087 shares during the period. Finally, Wellington Management Group LLP increased its stake in PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock valued at $637,263,000 after buying an additional 1,982,305 shares during the period. Hedge funds and other institutional investors own 81.31% of the company’s stock.

Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.03% on Friday, hitting $58.04. 6,962,121 shares of the stock were exchanged. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $61.30. The firm’s 50 day moving average price is $57.01 and its 200 day moving average price is $48.47. The firm has a market cap of $69.79 billion, a price-to-earnings ratio of 46.81 and a beta of 0.99.

PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.

PayPal Holdings announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Several equities analysts have commented on the stock. BTIG Research boosted their price target on shares of PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $61.00 in a research note on Monday, July 10th. Monness Crespi & Hardt boosted their price target on shares of PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target for the company in a research note on Wednesday, May 17th. Finally, Cowen and Company boosted their price target on shares of PayPal Holdings from $39.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. PayPal Holdings presently has a consensus rating of “Buy” and a consensus target price of $59.49.

In related news, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the sale, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.00, for a total transaction of $79,709.00. Following the completion of the sale, the executive vice president now owns 37,492 shares in the company, valued at $2,212,028. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,852 shares of company stock worth $5,653,198. Insiders own 6.00% of the company’s stock.

PayPal Holdings Company Profile

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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