BlackRock Inc. grew its stake in eBay Inc. (NASDAQ:EBAY) by 6.3% during the second quarter, Holdings Channel.com reports. The fund owned 49,638,905 shares of the e-commerce company’s stock after purchasing an additional 2,928,852 shares during the quarter. BlackRock Inc. owned approximately 0.07% of eBay worth $3,485,147,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Sawyer & Company Inc grew its stake in eBay by 515.4% in the 2nd quarter. Sawyer & Company Inc now owns 400 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 335 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of eBay by 115.3% during the second quarter. Capital Analysts LLC now owns 394 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in shares of eBay by 387.9% during the first quarter. Prestige Wealth Management Group LLC now owns 522 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 415 shares in the last quarter. First PREMIER Bank bought a new position in shares of eBay during the second quarter valued at approximately $35,000. Finally, Bogart Wealth LLC boosted its stake in shares of eBay by 192.2% during the second quarter. Bogart Wealth LLC now owns 637 shares of the e-commerce company’s stock valued at $45,000 after purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.
A number of equities analysts have recently issued reports on EBAY shares. Mizuho increased their price objective on shares of eBay from $63.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, August 12th. Credit Suisse Group increased their target price on shares of eBay from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, August 9th. Jefferies Financial Group started coverage on shares of eBay in a research report on Thursday, September 9th. They set a “hold” rating and a $83.00 target price for the company. Barclays increased their target price on shares of eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, August 12th. Finally, Wedbush reissued a “neutral” rating and set a $63.00 target price on shares of eBay in a research report on Thursday, August 5th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, eBay has an average rating of “Hold” and a consensus target price of $72.59.
eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. eBay had a net margin of 115.40% and a return on equity of 38.34%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. Equities research analysts anticipate that eBay Inc. will post 3.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Wednesday, September 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, August 31st. eBay’s dividend payout ratio (DPR) is presently 24.57%.
eBay announced that its board has approved a stock repurchase plan on Wednesday, August 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, CAO Brian J. Doerger sold 2,862 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $77.69, for a total value of $222,348.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Holmes Swan sold 40,000 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $73.15, for a total transaction of $2,926,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,604 shares of company stock valued at $5,788,022 in the last quarter. 0.21% of the stock is currently owned by company insiders.
eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.
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