SVB Wealth LLC Lowers Stock Position in eBay Inc. (NASDAQ:EBAY)

SVB Wealth LLC cut its position in shares of eBay Inc. (NASDAQ:EBAY) by 34.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,882 shares of the e-commerce company’s stock after selling 8,788 shares during the period. SVB Wealth LLC’s holdings in eBay were worth $736,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EBAY. CVA Family Office LLC purchased a new stake in eBay during the fourth quarter worth $25,000. SkyView Investment Advisors LLC purchased a new stake in eBay during the first quarter worth $27,000. Almanack Investment Partners LLC. purchased a new stake in eBay during the third quarter worth $28,000. Stonebridge Capital Advisors LLC purchased a new stake in eBay during the fourth quarter worth $29,000. Finally, Gyon Technologies Capital Management LP purchased a new stake in eBay during the fourth quarter worth $32,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Price Performance

Shares of NASDAQ EBAY opened at $50.39 on Friday. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $52.93. The stock has a market capitalization of $26.10 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The firm has a 50-day simple moving average of $49.23 and a 200-day simple moving average of $44.25. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.09.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.04. eBay had a net margin of 27.36% and a return on equity of 29.16%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the business earned $0.87 earnings per share. eBay’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that eBay Inc. will post 3.69 earnings per share for the current fiscal year.

eBay Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a dividend of $0.27 per share. This is a boost from eBay’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, March 8th. eBay’s dividend payout ratio (DPR) is presently 20.69%.

eBay declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the e-commerce company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Wells Fargo & Company increased their price objective on shares of eBay from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Barclays increased their price objective on shares of eBay from $55.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on shares of eBay in a report on Wednesday, January 10th. They set a “sell” rating and a $38.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of eBay from $49.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.21.

Insider Buying and Selling

In related news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the sale, the senior vice president now directly owns 31,888 shares in the company, valued at $1,372,140.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.