QRG Capital Management Inc. Boosts Holdings in eBay Inc. (NASDAQ:EBAY)

QRG Capital Management Inc. raised its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,589 shares of the e-commerce company’s stock after acquiring an additional 2,984 shares during the quarter. QRG Capital Management Inc.’s holdings in eBay were worth $7,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of eBay by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock worth $3,489,000 after purchasing an additional 1,063 shares during the last quarter. Kestra Investment Management LLC boosted its stake in shares of eBay by 172.5% during the 4th quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company’s stock worth $692,000 after purchasing an additional 7,074 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in shares of eBay during the 3rd quarter worth about $1,307,000. Prospera Financial Services Inc boosted its stake in shares of eBay by 794.2% during the 3rd quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock worth $4,598,000 after purchasing an additional 62,719 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of eBay by 5,091.9% during the 4th quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company’s stock worth $8,800,000 after purchasing an additional 139,315 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EBAY shares. Morgan Stanley raised their price target on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup raised their price target on shares of eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Bank of America decreased their target price on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of eBay in a research report on Thursday. Finally, Mizuho raised their target price on shares of eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.33.

eBay Trading Up 2.0 %

EBAY opened at $64.74 on Friday. The firm has a market capitalization of $31.01 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 1.35. The firm’s 50 day moving average is $66.22 and its 200-day moving average is $63.73. eBay Inc. has a 52-week low of $47.06 and a 52-week high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.79%. eBay’s dividend payout ratio is currently 29.07%.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total value of $355,556.25. Following the sale, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at $33,575,066.07. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen J. Priest sold 5,252 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the completion of the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,141,040.40. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,149 shares of company stock valued at $1,746,065 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.