Industrial Alliance Investment Management Inc. Sells 5,205 Shares of eBay Inc. (NASDAQ:EBAY)

Industrial Alliance Investment Management Inc. cut its holdings in shares of eBay Inc. (NASDAQ:EBAY – Get Rating) by 13.2% during the 3rd quarter, Holdings Channel reports. The firm owned 34,244 shares of the e-commerce company’s stock after selling 5,205 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in eBay were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in EBAY. American Century Companies Inc. increased its holdings in shares of eBay by 9.5% during the first quarter. American Century Companies Inc. now owns 41,990 shares of the e-commerce company’s stock worth $2,404,000 after purchasing an additional 3,655 shares during the period. Raymond James Trust N.A. increased its holdings in shares of eBay by 21.7% during the first quarter. Raymond James Trust N.A. now owns 9,176 shares of the e-commerce company’s stock worth $526,000 after purchasing an additional 1,638 shares during the period. Sei Investments Co. increased its holdings in shares of eBay by 34.7% during the first quarter. Sei Investments Co. now owns 461,862 shares of the e-commerce company’s stock worth $26,460,000 after purchasing an additional 118,952 shares during the period. Aviva PLC increased its holdings in shares of eBay by 6.2% during the first quarter. Aviva PLC now owns 223,976 shares of the e-commerce company’s stock worth $12,825,000 after purchasing an additional 13,127 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of eBay by 17.0% during the first quarter. Sequoia Financial Advisors LLC now owns 10,715 shares of the e-commerce company’s stock worth $614,000 after purchasing an additional 1,555 shares during the period. 85.51% of the stock is owned by institutional investors.

eBay Price Performance

Shares of NASDAQ EBAY opened at $41.45 on Friday. eBay Inc. has a twelve month low of $35.92 and a twelve month high of $60.38. The firm has a fifty day simple moving average of $46.66 and a 200 day simple moving average of $43.34. The company has a market capitalization of $22.25 billion, a PE ratio of -19.46, a P/E/G ratio of 1.34 and a beta of 1.37. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.50.

eBay (NASDAQ:EBAY – Get Rating) last announced its earnings results on Wednesday, February 22nd. The e-commerce company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. eBay had a negative net margin of 12.96% and a positive return on equity of 34.14%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm earned $0.89 earnings per share. eBay’s quarterly revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that eBay Inc. will post 3.36 EPS for the current year.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a $0.25 dividend. This is an increase from eBay’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 9th. eBay’s payout ratio is -46.95%.

Wall Street Analyst Weigh In

EBAY has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of eBay from $44.00 to $52.00 in a research note on Tuesday, February 21st. Piper Sandler lifted their price objective on shares of eBay from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. UBS Group lifted their price objective on shares of eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. StockNews.com initiated coverage on shares of eBay in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of eBay from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.92.

eBay Profile

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eBay, Inc is a commerce company, whose platforms include an online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. Its technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.