Charles Schwab Investment Management Inc. Trims Stake in eBay Inc. (NASDAQ:EBAY)

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in eBay Inc. by 0.3%, selling 11,535 shares and now owns 3,334,405 shares valued at approximately $225.8 million.
• CEO Jamie Iannone sold 12,644 shares of eBay, resulting in a 3.83% decrease in his ownership, which leaves him with shares valued around $24.1 million.
• eBay recently announced a quarterly dividend of $0.29 per share, with a yield of 1.2%, to be paid to investors of record on August 29th.

Charles Schwab Investment Management Inc. reduced its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,334,405 shares of the e-commerce company's stock after selling 11,535 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.72% of eBay worth $225,839,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Abound Financial LLC bought a new position in shares of eBay in the first quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in eBay during the fourth quarter worth $27,000. Pinney & Scofield Inc. bought a new position in eBay during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in eBay during the fourth quarter worth $33,000. Finally, Sierra Ocean LLC increased its position in eBay by 84.9% during the first quarter. Sierra Ocean LLC now owns 538 shares of the e-commerce company's stock worth $36,000 after acquiring an additional 247 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Performance

Shares of EBAY stock traded up $3.71 during trading hours on Wednesday, reaching $100.77. 7,169,620 shares of the company traded hands, compared to its average volume of 5,614,179. eBay Inc. has a 12-month low of $54.80 and a 12-month high of $100.96. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $46.05 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.30 and a beta of 1.27. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $72.11.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. eBay had a return on equity of 38.97% and a net margin of 20.86%. The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period in the prior year, the firm earned $1.18 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.2%. eBay's dividend payout ratio is presently 25.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird boosted their target price on shares of eBay from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Morgan Stanley lifted their price target on shares of eBay from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Arete Research raised shares of eBay from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, UBS Group set a $87.00 target price on shares of eBay in a research note on Thursday, July 31st. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $78.19.

Insider Transactions at eBay

In other news, SVP Cornelius Boone sold 2,985 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the transaction, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of eBay stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total value of $6,694,013.70. Following the transaction, the senior vice president owned 123,282 shares of the company's stock, valued at approximately $8,883,700.92. This represents a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,104 shares of company stock worth $22,025,676 over the last quarter. 0.64% of the stock is owned by corporate insiders.

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.