Federated Hermes Inc. Sells 82,785 Shares of eBay Inc. (NASDAQ:EBAY)

Federated Hermes Inc. lowered its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 334,628 shares of the e-commerce company's stock after selling 82,785 shares during the period. Federated Hermes Inc. owned 0.06% of eBay worth $14,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in eBay during the fourth quarter valued at about $25,000. First Command Advisory Services Inc. purchased a new stake in eBay during the third quarter valued at about $46,000. NBC Securities Inc. purchased a new stake in eBay during the third quarter valued at about $55,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in eBay during the third quarter valued at about $71,000. Finally, China Universal Asset Management Co. Ltd. grew its position in eBay by 228.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,983 shares of the e-commerce company's stock valued at $87,000 after acquiring an additional 1,380 shares during the period. Hedge funds and other institutional investors own 87.48% of the company's stock.

Insider Activity

In other news, SVP Edward O. Garcia sold 1,165 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the transaction, the senior vice president now directly owns 31,888 shares of the company's stock, valued at $1,372,140.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EBAY shares. Piper Sandler boosted their price target on eBay from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Barclays boosted their price objective on eBay from $55.00 to $61.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. StockNews.com upgraded eBay from a "hold" rating to a "buy" rating in a research note on Sunday, April 14th. Truist Financial boosted their price objective on eBay from $47.00 to $48.00 and gave the stock a "hold" rating in a research note on Thursday, February 29th. Finally, Mizuho boosted their price objective on eBay from $40.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $49.21.

eBay Stock Up 0.6 %

NASDAQ EBAY traded up $0.31 on Tuesday, hitting $51.25. 4,522,813 shares of the stock traded hands, compared to its average volume of 6,428,662. The stock has a 50-day moving average of $49.58 and a 200 day moving average of $44.38. eBay Inc. has a twelve month low of $37.17 and a twelve month high of $52.93. The company has a market capitalization of $26.55 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.04. eBay had a return on equity of 29.16% and a net margin of 27.36%. The firm had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. eBay's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts expect that eBay Inc. will post 3.69 earnings per share for the current fiscal year.

eBay declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the e-commerce company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 8th. This is a positive change from eBay's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.11%. eBay's dividend payout ratio is 20.69%.

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.