Alliancebernstein L.P. Cuts Stock Position in eBay Inc. (NASDAQ:EBAY)

Alliancebernstein L.P. decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 586,142 shares of the e-commerce company’s stock after selling 78,757 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of eBay worth $36,311,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of EBAY. FSB Premier Wealth Management Inc. raised its position in shares of eBay by 16.1% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 15,799 shares of the e-commerce company’s stock valued at $979,000 after buying an additional 2,196 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in eBay by 49.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 665,814 shares of the e-commerce company’s stock valued at $41,247,000 after purchasing an additional 221,129 shares during the period. CIBC Private Wealth Group LLC raised its position in eBay by 34.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,330 shares of the e-commerce company’s stock valued at $268,000 after purchasing an additional 1,105 shares during the period. Allianz SE bought a new stake in shares of eBay in the 4th quarter valued at approximately $168,000. Finally, Allstate Corp purchased a new position in shares of eBay in the 4th quarter worth approximately $888,000. Institutional investors own 87.48% of the company’s stock.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 1,033 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the transaction, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,225,644.40. This trade represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,676 shares of company stock worth $2,613,807. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EBAY shares. BMO Capital Markets raised their price target on eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Barclays set a $72.00 price target on shares of eBay and gave the stock an “overweight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of eBay from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Benchmark boosted their target price on eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.46.

eBay Trading Down 6.0 %

EBAY opened at $62.40 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $29.08 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.22 and a beta of 1.43. eBay Inc. has a 12 month low of $48.52 and a 12 month high of $71.61. The stock has a fifty day moving average price of $67.26 and a 200-day moving average price of $65.03.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.86%. This is a positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 14th. eBay’s dividend payout ratio is presently 29.07%.

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.