Retirement Systems of Alabama Has $4.99 Million Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Retirement Systems of Alabama trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 4.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 114,383 shares of the e-commerce company’s stock after selling 5,943 shares during the period. Retirement Systems of Alabama’s holdings in eBay were worth $4,989,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock worth $547,516,000 after purchasing an additional 3,534,030 shares during the period. Pacer Advisors Inc. raised its holdings in shares of eBay by 34.3% in the 4th quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock worth $254,712,000 after buying an additional 1,491,485 shares in the last quarter. Invesco Ltd. lifted its position in shares of eBay by 16.0% during the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock worth $360,749,000 after buying an additional 1,130,089 shares during the period. Boston Partners boosted its stake in eBay by 17.7% in the 3rd quarter. Boston Partners now owns 3,980,512 shares of the e-commerce company’s stock valued at $175,451,000 after buying an additional 599,607 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in eBay by 604.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 630,956 shares of the e-commerce company’s stock valued at $27,522,000 after acquiring an additional 541,384 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at eBay

In related news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the sale, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on eBay in a report on Wednesday, January 10th. They issued a “sell” rating and a $38.00 target price on the stock. Susquehanna boosted their target price on eBay from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. StockNews.com cut shares of eBay from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley decreased their price target on shares of eBay from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler lifted their target price on eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.35.

eBay Stock Performance

NASDAQ EBAY opened at $49.65 on Monday. The firm’s 50 day simple moving average is $50.81 and its 200 day simple moving average is $44.86. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 1.98 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 2.44 and a debt-to-equity ratio of 0.98. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $52.93.

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

eBay declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

eBay Dividend Announcement

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

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.