Bank of New York Mellon Corp Sells 102,758 Shares of eBay Inc. (NASDAQ:EBAY)

Bank of New York Mellon Corp decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY – Get Rating) by 2.1% in the third quarter, HoldingsChannel reports. The fund owned 4,892,665 shares of the e-commerce company’s stock after selling 102,758 shares during the quarter. Bank of New York Mellon Corp’s holdings in eBay were worth $180,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC bought a new stake in shares of eBay during the 2nd quarter valued at $26,000. Eagle Bay Advisors LLC lifted its stake in shares of eBay by 49.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 736 shares of the e-commerce company’s stock valued at $27,000 after buying an additional 242 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of eBay during the 3rd quarter valued at $28,000. Guardian Wealth Advisors LLC purchased a new position in shares of eBay during the 3rd quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of eBay by 102.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the e-commerce company’s stock valued at $50,000 after buying an additional 689 shares in the last quarter. Institutional investors own 85.51% of the company’s stock.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of analyst reports. Cowen lowered their target price on shares of eBay from $48.00 to $46.00 in a research note on Thursday, February 23rd. Bank of America lifted their target price on shares of eBay from $44.00 to $52.00 in a research note on Tuesday, February 21st. Benchmark lowered their target price on shares of eBay from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Susquehanna lifted their target price on shares of eBay from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. Finally, UBS Group lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.92.

eBay Stock Up 1.5 %

Shares of NASDAQ EBAY opened at $42.06 on Friday. The firm’s 50-day moving average price is $46.60 and its 200-day moving average price is $43.32. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of -19.75, a P/E/G ratio of 1.34 and a beta of 1.37. eBay Inc. has a 12-month low of $35.92 and a 12-month high of $60.38.

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

eBay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.38%. This is an increase from eBay’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 9th. eBay’s dividend payout ratio is presently -46.95%.

eBay Company Profile

(Get Rating)

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.