State of Alaska Department of Revenue cut its holdings in eBay Inc. (NASDAQ:EBAY – Get Rating) by 31.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,791 shares of the e-commerce company’s stock after selling 76,955 shares during the quarter. State of Alaska Department of Revenue’s holdings in eBay were worth $7,074,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Redpoint Investment Management Pty Ltd increased its stake in eBay by 95.9% in the second quarter. Redpoint Investment Management Pty Ltd now owns 16,902 shares of the e-commerce company’s stock valued at $704,000 after purchasing an additional 8,272 shares during the last quarter. NuWave Investment Management LLC boosted its position in shares of eBay by 1,851.2% in the second quarter. NuWave Investment Management LLC now owns 13,229 shares of the e-commerce company’s stock worth $551,000 after buying an additional 12,551 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of eBay in the second quarter worth about $279,000. Amalgamated Bank boosted its position in shares of eBay by 3.6% in the first quarter. Amalgamated Bank now owns 177,712 shares of the e-commerce company’s stock worth $10,176,000 after buying an additional 6,142 shares during the period. Finally, Offit Capital Advisors LLC boosted its holdings in eBay by 19.6% in the first quarter. Offit Capital Advisors LLC now owns 5,853 shares of the e-commerce company’s stock valued at $335,000 after purchasing an additional 960 shares during the last quarter. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on EBAY. The Goldman Sachs Group cut eBay from a “neutral” rating to a “sell” rating and cut their price objective for the company from $52.00 to $42.00 in a research note on Thursday, June 9th. Atlantic Securities decreased their price target on eBay to $50.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on eBay from $60.00 to $50.00 in a research note on Thursday, July 21st. Needham & Company LLC started coverage on eBay in a report on Monday, August 1st. They issued a “hold” rating for the company. Finally, Benchmark cut their price objective on eBay to $66.00 in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, eBay currently has a consensus rating of “Hold” and a consensus price target of $59.43.
eBay Stock Performance
eBay (NASDAQ:EBAY – Get Rating) last released its earnings results on Wednesday, August 3rd. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.09. eBay had a return on equity of 24.42% and a net margin of 3.60%. During the same quarter last year, the company posted $0.82 EPS. Sell-side analysts expect that eBay Inc. will post 3.27 EPS for the current fiscal year.
eBay Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, August 31st. eBay’s dividend payout ratio (DPR) is presently 209.53%.
eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.
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