HighTower Advisors LLC Lowers Stock Holdings in eBay Inc. (NASDAQ:EBAY)

HighTower Advisors LLC decreased its position in shares of eBay Inc. (NASDAQ:EBAY) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 120,057 shares of the e-commerce company’s stock after selling 7,885 shares during the period. HighTower Advisors LLC’s holdings in eBay were worth $7,438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EBAY. Wellington Management Group LLP purchased a new position in shares of eBay during the 3rd quarter valued at $105,506,000. Raymond James Financial Inc. bought a new stake in eBay in the 4th quarter valued at $96,214,000. Amundi increased its holdings in eBay by 16.8% in the 4th 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 last quarter. Allianz Asset Management GmbH increased its holdings in eBay by 23.2% in the 4th quarter. Allianz Asset Management GmbH now owns 2,460,879 shares of the e-commerce company’s stock valued at $152,451,000 after acquiring an additional 463,015 shares during the last quarter. Finally, DJE Kapital AG bought a new stake in eBay in the 4th quarter valued at $26,833,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Performance

eBay stock opened at $65.24 on Wednesday. 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 firm has a market capitalization of $30.40 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company’s 50-day moving average is $67.10 and its 200 day moving average is $64.56. eBay Inc. has a 1-year low of $48.52 and a 1-year high of $71.61.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.29 dividend. 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 yield of 1.78%. The ex-dividend date is Friday, March 14th. eBay’s dividend payout ratio is currently 29.07%.

Insiders Place Their Bets

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated 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 directly owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 1,033 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $64.93, for a total transaction of $67,072.69. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,283 shares of company stock worth $796,241 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

EBAY has been the topic of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of eBay in a report on Monday, December 16th. Jefferies Financial Group downgraded shares of eBay from a “hold” rating to an “underperform” rating and reduced their price target for the company from $60.00 to $52.00 in a report on Tuesday, December 10th. Cantor Fitzgerald lifted their price target on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Citigroup lifted their price target on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, BMO Capital Markets boosted their target price on shares of eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, eBay currently has a consensus rating of “Hold” and an average price target of $65.54.

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.