Paypal Holdings Inc (PYPL) is M&T Bank Corp’s 4th Largest Position

M&T Bank Corp reduced its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 27.2% in the 4th quarter, HoldingsChannel reports. The fund owned 6,427,130 shares of the credit services provider’s stock after selling 2,403,212 shares during the period. Paypal makes up about 2.5% of M&T Bank Corp’s portfolio, making the stock its 4th biggest position. M&T Bank Corp’s holdings in Paypal were worth $473,165,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC raised its stake in shares of Paypal by 117.3% during the 4th quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock worth $1,204,003,000 after purchasing an additional 8,827,558 shares in the last quarter. Harding Loevner LP raised its stake in shares of Paypal by 86.1% during the 3rd quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock worth $381,030,000 after purchasing an additional 5,253,746 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Paypal by 25.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,973,668 shares of the credit services provider’s stock valued at $702,644,000 after acquiring an additional 2,234,157 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Paypal by 1.9% in the 4th quarter. American Century Companies Inc. now owns 8,198,851 shares of the credit services provider’s stock valued at $603,599,000 after acquiring an additional 154,154 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Paypal by 1.0% in the 3rd quarter. First Trust Advisors LP now owns 5,443,755 shares of the credit services provider’s stock valued at $348,564,000 after acquiring an additional 54,958 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Shares of Paypal Holdings Inc (NASDAQ:PYPL) opened at $74.75 on Monday. Paypal Holdings Inc has a fifty-two week low of $40.56 and a fifty-two week high of $86.32. The firm has a market capitalization of $89,711.96, a P/E ratio of 51.20, a PEG ratio of 2.39 and a beta of 1.18.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm earned $0.42 EPS. Paypal’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities research analysts anticipate that Paypal Holdings Inc will post 1.75 earnings per share for the current year.

A number of brokerages recently weighed in on PYPL. BTIG Research downgraded Paypal from a “buy” rating to a “neutral” rating in a research note on Thursday, February 1st. Stifel Nicolaus raised their price objective on Paypal from $77.00 to $79.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Jefferies Group raised their price objective on Paypal from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group reissued an “outperform” rating and issued a $91.00 price objective (up from $85.00) on shares of Paypal in a research note on Wednesday, January 17th. Finally, Guggenheim reissued a “buy” rating on shares of Paypal in a research note on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Paypal has an average rating of “Buy” and a consensus price target of $77.04.

In related news, Director Rodney C. Adkins bought 6,750 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average price of $74.04 per share, for a total transaction of $499,770.00. Following the transaction, the director now directly owns 10,149 shares of the company’s stock, valued at $751,431.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adele Louise Pentland sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $78.11, for a total value of $468,660.00. Following the transaction, the executive vice president now owns 46,045 shares of the company’s stock, valued at approximately $3,596,574.95. The disclosure for this sale can be found here. Insiders have sold a total of 126,344 shares of company stock worth $9,818,481 in the last three months. 6.00% of the stock is owned by insiders.

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Paypal 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 (NASDAQ:PYPL)

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