eBay Inc. (NASDAQ:EBAY) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its holdings in eBay Inc. by 4.4%, owning a total of 154,903 shares worth approximately $10.48 million after acquiring additional shares in the first quarter.
• eBay recently reported quarterly earnings of $1.37 EPS, beating estimates, with a revenue of $2.73 billion—up 6.1% year-over-year.
• The company has announced a quarterly dividend of $0.29 per share, resulting in a 1.2% yield, with the next payment scheduled for September 12th.

Resona Asset Management Co. Ltd. increased its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,903 shares of the e-commerce company's stock after acquiring an additional 6,526 shares during the period. Resona Asset Management Co. Ltd.'s holdings in eBay were worth $10,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its position in eBay by 15.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 26,212 shares of the e-commerce company's stock worth $1,623,000 after purchasing an additional 3,563 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in eBay in the 4th quarter worth about $313,000. Mariner LLC raised its position in eBay by 5.8% in the 4th quarter. Mariner LLC now owns 114,109 shares of the e-commerce company's stock worth $7,069,000 after purchasing an additional 6,283 shares during the period. CreativeOne Wealth LLC purchased a new stake in eBay in the 4th quarter worth about $1,225,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in eBay in the 4th quarter worth about $673,000. Hedge funds and other institutional investors own 87.48% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EBAY. JPMorgan Chase & Co. increased their price objective on shares of eBay from $66.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Benchmark lifted their price objective on shares of eBay from $78.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on shares of eBay from $66.00 to $84.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wedbush restated a "neutral" rating and issued a $72.00 target price on shares of eBay in a research note on Wednesday, June 11th. Finally, Barclays restated an "overweight" rating and issued a $92.00 target price (up from $77.00) on shares of eBay in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, eBay currently has an average rating of "Hold" and an average target price of $78.19.

eBay Stock Up 2.3%

EBAY traded up $2.22 during trading hours on Friday, hitting $100.70. 6,130,705 shares of the company's stock were exchanged, compared to its average volume of 6,987,007. eBay Inc. has a 12-month low of $54.80 and a 12-month high of $101.15. The firm has a 50 day moving average of $81.59 and a 200 day moving average of $72.80. The firm has a market cap of $46.02 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.05.

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

eBay Announces Dividend

The business 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. eBay's dividend payout ratio (DPR) is 25.55%.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.67, for a total transaction of $234,829.95. Following the completion of the sale, the senior vice president owned 92,053 shares in the company, valued at $7,241,809.51. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $77.38, for a total transaction of $1,825,935.86. Following the sale, the senior vice president owned 44,413 shares of the company's stock, valued at approximately $3,436,677.94. This represents a 34.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,104 shares of company stock valued at $22,025,676. Corporate insiders own 0.64% of the company's stock.

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.