Cullen Frost Bankers Inc. Decreases Stake in eBay Inc. (NASDAQ:EBAY)

Cullen Frost Bankers Inc. lowered its stake in shares of eBay Inc. (NASDAQ:EBAY) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,260 shares of the e-commerce company’s stock after selling 1,234 shares during the period. Cullen Frost Bankers Inc.’s holdings in eBay were worth $698,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of eBay during the 4th quarter worth approximately $27,000. Quarry LP purchased a new stake in shares of eBay during the 3rd quarter worth approximately $36,000. New Wave Wealth Advisors LLC purchased a new stake in shares of eBay during the 4th quarter worth approximately $36,000. Versant Capital Management Inc increased its stake in shares of eBay by 115.5% during the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after purchasing an additional 448 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of eBay during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EBAY. Jefferies Financial Group lowered shares of eBay from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. BMO Capital Markets lifted their price objective on shares of eBay from $59.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. 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 research note on Thursday, February 27th. Wells Fargo & Company lifted their price objective on shares of eBay from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Citigroup lifted their price objective on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.54.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the transaction, the chief executive officer now owns 542,248 shares in the company, valued at $33,825,430.24. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,989 shares of eBay stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the transaction, the senior vice president now owns 71,469 shares in the company, valued at approximately $4,659,778.80. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,524 shares of company stock worth $1,390,509 in the last 90 days. 0.38% of the stock is owned by company insiders.

eBay Stock Performance

NASDAQ EBAY opened at $70.51 on Friday. eBay Inc. has a 52-week low of $48.52 and a 52-week high of $71.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $32.86 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.22 and a beta of 1.45. The company has a fifty day moving average of $66.60 and a 200-day moving average of $64.13.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.29 per share. This is an increase from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, March 14th. eBay’s payout ratio is currently 29.07%.

eBay 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.