Moody National Bank Trust Division purchased a new stake in eBay Inc. (NASDAQ:EBAY – Get Rating) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,691 shares of the e-commerce company’s stock, valued at approximately $279,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Amalgamated Bank raised its stake in eBay by 3.6% in the first quarter. Amalgamated Bank now owns 177,712 shares of the e-commerce company’s stock valued at $10,176,000 after buying an additional 6,142 shares during the last quarter. Offit Capital Advisors LLC raised its stake 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 buying an additional 960 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in eBay in the first quarter valued at about $57,000. Teachers Retirement System of The State of Kentucky raised its stake in eBay by 18.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 397,233 shares of the e-commerce company’s stock valued at $22,745,000 after buying an additional 62,200 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of eBay by 16.3% in the first quarter. Rehmann Capital Advisory Group now owns 5,504 shares of the e-commerce company’s stock worth $315,000 after purchasing an additional 772 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 recently issued reports on EBAY. The Goldman Sachs Group cut eBay from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $52.00 to $42.00 in a research note on Thursday, June 9th. JMP Securities began coverage on eBay in a research note on Wednesday, June 1st. They issued a “market perform” rating for the company. Credit Suisse Group raised their price objective on eBay from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Piper Sandler reduced their price objective on eBay from $63.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, August 4th. Finally, UBS Group raised their target price on eBay from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, eBay presently has an average rating of “Hold” and an average price target of $59.43.
eBay Stock Performance
eBay (NASDAQ:EBAY – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $0.82 EPS. As a group, equities research analysts expect that eBay Inc. will post 3.27 earnings per share for the current fiscal year.
eBay Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%. eBay’s payout ratio is 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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