Concord Wealth Partners Sells 1,370 Shares of eBay Inc. (NASDAQ:EBAY)

Concord Wealth Partners cut its stake in eBay Inc. (NASDAQ:EBAY) by 54.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,151 shares of the e-commerce company’s stock after selling 1,370 shares during the quarter. Concord Wealth Partners’ holdings in eBay were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EBAY. Cambridge Investment Research Advisors Inc. increased its stake in eBay by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 48,186 shares of the e-commerce company’s stock worth $2,125,000 after purchasing an additional 1,658 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in eBay by 3.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 147,661 shares of the e-commerce company’s stock worth $6,510,000 after purchasing an additional 5,149 shares during the period. Stratos Wealth Partners LTD. increased its stake in eBay by 109.7% in the third quarter. Stratos Wealth Partners LTD. now owns 10,263 shares of the e-commerce company’s stock worth $453,000 after purchasing an additional 5,370 shares during the period. Bank of New York Mellon Corp increased its stake in eBay by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 4,762,716 shares of the e-commerce company’s stock worth $209,988,000 after purchasing an additional 113,771 shares during the period. Finally, Total Clarity Wealth Management Inc. purchased a new stake in eBay in the third quarter worth $288,000. 87.48% of the stock is currently owned by institutional investors.

eBay Price Performance

Shares of NASDAQ EBAY opened at $49.65 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.44 and a current ratio of 1.99. The company has a market cap of $25.14 billion, a PE ratio of 9.89, a P/E/G ratio of 1.96 and a beta of 1.31. The business has a 50-day simple moving average of $50.70 and a two-hundred day simple moving average of $44.77. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $52.93.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05. eBay had a return on equity of 29.11% and a net margin of 25.97%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that eBay Inc. will post 3.75 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, May 30th. eBay’s dividend payout ratio (DPR) is 21.51%.

eBay declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

EBAY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on eBay from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley cut their price target on eBay from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company raised their price target on eBay from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Barclays raised their price target on eBay from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group assumed coverage on eBay in a research note on Wednesday, January 10th. They set a “sell” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus price target of $51.35.

Insider Buying and Selling

In related news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction dated Tuesday, February 20th. The stock was 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 owns 31,888 shares of the company’s stock, valued at $1,372,140.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.