Cornerstone Wealth Management LLC Has $944,000 Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cornerstone Wealth Management LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 41.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,063 shares of the credit services provider’s stock after acquiring an additional 3,219 shares during the period. Cornerstone Wealth Management LLC’s holdings in PayPal were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. FMR LLC lifted its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC increased its holdings 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 during the period. Legal & General Group Plc increased its holdings in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC increased its holdings in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA increased its holdings 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 during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $89.11 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66. The firm’s 50 day moving average price is $87.70 and its two-hundred day moving average price is $77.58. The firm has a market cap of $89.34 billion, a P/E ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company 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 company earned $0.97 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on PYPL. BMO Capital Markets boosted their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Macquarie upped their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Susquehanna upped their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Fourteen investment 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 data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $89.48.

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.