eBay Inc. (NASDAQ:EBAY) Position Trimmed by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its holdings in eBay Inc. (NASDAQ:EBAY) by 5.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,667 shares of the e-commerce company’s stock after selling 286 shares during the quarter. Summit Investment Advisors Inc.’s holdings in eBay were worth $289,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Independent Franchise Partners LLP boosted its stake in eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after acquiring an additional 2,277,839 shares during the period. Nordea Investment Management AB grew its stake in eBay by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after buying an additional 335,035 shares during the last quarter. Victory Capital Management Inc. increased its position in eBay by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock worth $367,767,000 after buying an additional 82,904 shares during the period. Boston Partners lifted its stake in eBay by 35.2% in the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock valued at $362,823,000 after buying an additional 1,524,691 shares during the last quarter. Finally, Amundi boosted its holdings in shares of eBay by 16.8% during the fourth quarter. Amundi now owns 4,719,128 shares of the e-commerce company’s stock valued at $292,350,000 after acquiring an additional 677,389 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Price Performance

Shares of EBAY opened at $66.26 on Monday. The business’s 50-day moving average is $66.30 and its 200-day moving average is $64.96. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.22 and a beta of 1.43. eBay Inc. has a fifty-two week low of $48.52 and a fifty-two week high of $71.61.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is 29.07%.

Insider Activity

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the transaction, the chief executive officer now owns 530,998 shares in the company, valued at approximately $35,709,615.50. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,308,946.80. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,310 shares of company stock worth $3,121,626 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EBAY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of eBay in a report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on eBay from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Bank of America cut their target price on eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Cantor Fitzgerald raised their price target on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their price objective on shares of eBay from $64.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.13.

About eBay

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.