NewEdge Wealth LLC Boosts Holdings in eBay Inc. (NASDAQ:EBAY)

NewEdge Wealth LLC raised its stake in shares of eBay Inc. (NASDAQ:EBAY) by 8.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 461,587 shares of the e-commerce company’s stock after buying an additional 37,457 shares during the period. NewEdge Wealth LLC owned about 0.10% of eBay worth $28,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP purchased a new position in eBay during the third quarter valued at approximately $105,506,000. Allianz Asset Management GmbH grew its stake in shares of eBay by 23.2% during the 4th quarter. Allianz Asset Management GmbH now owns 2,460,879 shares of the e-commerce company’s stock worth $152,451,000 after purchasing an additional 463,015 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of eBay by 599.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 538,744 shares of the e-commerce company’s stock valued at $35,078,000 after purchasing an additional 461,708 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of eBay in the 3rd quarter valued at $25,132,000. Finally, Nordea Investment Management AB boosted its holdings in eBay by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after buying an additional 335,035 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insider Activity

In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total transaction of $67,072.69. Following the sale, 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. Over the last ninety days, insiders sold 27,149 shares of company stock valued at $1,746,065. 0.38% of the stock is currently owned by corporate insiders.

eBay Price Performance

Shares of EBAY opened at $69.14 on Thursday. The firm has a 50-day simple moving average of $66.24 and a two-hundred day simple moving average of $63.67. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay Inc. has a 1-year low of $46.53 and a 1-year high of $71.61. The stock has a market cap of $33.12 billion, a PE ratio of 17.37, a P/E/G ratio of 2.22 and a beta of 1.35.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.29 per share. This is a positive change from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.68%. eBay’s dividend payout ratio (DPR) is currently 27.14%.

Wall Street Analyst Weigh In

EBAY has been the subject of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised their price objective on eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.38.

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.