eBay Inc. (NASDAQ:EBAY) Shares Bought by ProVise Management Group LLC

Key Points

• ProVise Management Group LLC increased its holdings in eBay by 4.1% during the first quarter, owning 150,560 shares valued at approximately $10.2 million.
• eBay reported quarterly earnings of $1.37 per share, exceeding analysts' expectations, with revenues of $2.73 billion for the quarter.
• The company recently announced a quarterly dividend of $0.29 per share, representing an annual yield of 1.3% for investors.

ProVise Management Group LLC grew its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 150,560 shares of the e-commerce company's stock after buying an additional 5,961 shares during the period. ProVise Management Group LLC's holdings in eBay were worth $10,197,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Marvin & Palmer Associates Inc. purchased a new position in shares of eBay in the 1st quarter valued at approximately $2,958,000. Norges Bank acquired a new stake in shares of eBay during the fourth quarter worth $40,805,000. Assenagon Asset Management S.A. grew its position in eBay by 0.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 53,089 shares of the e-commerce company's stock valued at $3,596,000 after buying an additional 246 shares during the last quarter. Portolan Capital Management LLC increased its stake in eBay by 210.2% in the 4th quarter. Portolan Capital Management LLC now owns 238,132 shares of the e-commerce company's stock valued at $14,752,000 after buying an additional 161,372 shares during the period. Finally, IFP Advisors Inc increased its stake in eBay by 59.6% in the 1st quarter. IFP Advisors Inc now owns 3,857 shares of the e-commerce company's stock valued at $261,000 after buying an additional 1,440 shares during the period. Institutional investors and hedge funds own 87.48% of the company's stock.

eBay Stock Performance

Shares of EBAY opened at $91.75 on Friday. eBay Inc. has a 1 year low of $53.74 and a 1 year high of $92.79. The company's 50 day simple moving average is $77.03 and its 200 day simple moving average is $70.49. The company has a market capitalization of $42.30 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.07. eBay had a return on equity of 38.17% and a net margin of 20.86%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 1.3%. eBay's dividend payout ratio is 25.55%.

Analyst Ratings Changes

EBAY has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a research note on Tuesday. Citizens Jmp raised eBay to a "hold" rating in a report on Thursday, July 10th. BMO Capital Markets raised eBay from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $70.00 to $102.00 in a research note on Thursday. Wall Street Zen upgraded eBay from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, TD Securities upped their price objective on eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, eBay presently has a consensus rating of "Hold" and an average price target of $76.73.

Insiders Place Their Bets

In other news, SVP Julie A. Loeger sold 127,070 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the transaction, the senior vice president directly owned 123,282 shares in the company, valued at $8,559,469.26. This represents a 50.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jamie Iannone sold 12,644 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $79.06, for a total transaction of $999,634.64. Following the completion of the sale, the chief executive officer directly owned 325,053 shares in the company, valued at $25,698,690.18. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 337,222 shares of company stock valued at $24,463,922. 0.64% of the stock is owned by corporate insiders.

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.

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