Chevy Chase Trust Holdings LLC reduced its holdings in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,576 shares of the e-commerce company’s stock after selling 38,001 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.07% of eBay worth $30,066,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Financial Consulate Inc. bought a new position in eBay in the 3rd quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in eBay during the 3rd quarter valued at about $28,000. Sumitomo Mitsui Financial Group Inc. increased its holdings in eBay by 155.3% during the 2nd quarter. Sumitomo Mitsui Financial Group Inc. now owns 411 shares of the e-commerce company’s stock worth $30,000 after purchasing an additional 250 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in eBay during the 3rd quarter worth approximately $32,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of eBay in the third quarter worth approximately $40,000. 87.48% of the stock is owned by institutional investors.
eBay Stock Performance
Shares of EBAY opened at $91.34 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $40.92 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.91 and a beta of 1.38. The stock has a 50 day moving average of $89.74 and a 200 day moving average of $88.45. eBay Inc. has a 12 month low of $58.71 and a 12 month high of $101.15.
eBay Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.31 dividend. This is an increase from eBay’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. eBay’s payout ratio is presently 28.51%.
Insider Buying and Selling
In related news, SVP Mazen Rawashdeh sold 1,920 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $81.90, for a total transaction of $157,248.00. Following the completion of the transaction, the senior vice president owned 5,746 shares in the company, valued at approximately $470,597.40. This represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 4,462 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $83.94, for a total transaction of $374,540.28. Following the sale, the senior vice president owned 91,921 shares of the company’s stock, valued at $7,715,848.74. This trade represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,697 shares of company stock valued at $3,760,124. 0.64% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on EBAY. Evercore raised their target price on eBay from $93.00 to $94.00 in a report on Thursday, February 19th. Bank of America upped their price target on eBay from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Barclays lowered their price target on eBay from $105.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $119.00 price objective on shares of eBay in a report on Thursday, February 19th. Finally, Daiwa Securities Group upped their target price on shares of eBay from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $97.97.
Read Our Latest Report on EBAY
eBay Profile
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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