Salem Capital Management Inc. increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,150 shares of the credit services provider’s stock after buying an additional 3,275 shares during the period. Salem Capital Management Inc.’s holdings in PayPal Holdings were worth $1,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock valued at $627,000 after buying an additional 10,250 shares during the last quarter. Comerica Bank raised its stake in PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock valued at $21,999,000 after buying an additional 10,270 shares during the last quarter. Clean Yield Group purchased a new stake in PayPal Holdings during the first quarter valued at approximately $127,000. Checchi Capital Advisers LLC raised its stake in PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock valued at $555,000 after buying an additional 1,025 shares during the last quarter. Finally, Good Life Advisors LLC purchased a new stake in PayPal Holdings during the first quarter valued at approximately $248,000. Institutional investors and hedge funds own 81.31% of the company’s stock.

PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.03% during trading on Friday, reaching $58.04. 6,962,121 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $57.01 and a 200 day moving average price of $48.47. The stock has a market capitalization of $69.79 billion, a P/E ratio of 46.81 and a beta of 0.99. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30.

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

PayPal Holdings declared that its board has approved a stock buyback plan on Wednesday, April 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This report was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2017/08/12/salem-capital-management-inc-buys-3275-shares-of-paypal-holdings-inc-nasdaqpypl.html.

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

In other news, 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 value of $79,709.00. Following the completion of the transaction, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold a total of 95,852 shares of company stock valued at $5,653,198 over the last ninety days. Company insiders own 6.00% of the company’s stock.

About PayPal Holdings

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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL).

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

Receive News & Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.