Truist Financial Corp Sells 316,255 Shares of eBay Inc. (NASDAQ:EBAY)

Truist Financial Corp cut its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,017,792 shares of the e-commerce company's stock after selling 316,255 shares during the quarter. Truist Financial Corp owned approximately 0.39% of eBay worth $88,016,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CVA Family Office LLC acquired a new stake in eBay in the fourth quarter worth about $25,000. First Command Advisory Services Inc. acquired a new stake in eBay in the third quarter worth about $46,000. Cambridge Trust Co. increased its position in eBay by 135.0% in the fourth quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company's stock worth $51,000 after purchasing an additional 675 shares during the period. NBC Securities Inc. acquired a new stake in eBay in the third quarter worth about $55,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of eBay in the 3rd quarter valued at about $71,000. 87.48% of the stock is owned by institutional investors.

eBay Stock Up 1.3 %

Shares of eBay stock traded up $0.68 on Friday, reaching $52.02. 4,985,631 shares of the company were exchanged, compared to its average volume of 4,369,263. eBay Inc. has a one year low of $37.17 and a one year high of $52.93. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 2.04 and a beta of 1.33. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $50.11 and a 200 day moving average of $44.55.

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, topping analysts' consensus estimates of $1.03 by $0.04. eBay had a return on equity of 29.16% and a net margin of 27.36%. The company 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 business posted $0.87 EPS. The business's revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that eBay Inc. will post 3.75 earnings per share for the current year.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from eBay's previous quarterly dividend of $0.25. eBay's dividend payout ratio is 20.69%.

eBay declared that its board has authorized a stock repurchase program on Tuesday, February 27th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EBAY shares. UBS Group upped their price target on eBay from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. StockNews.com raised eBay from a "hold" rating to a "buy" rating in a research note on Thursday. Susquehanna upped their price target on eBay from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Barclays upped their price target on eBay from $55.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. Finally, Truist Financial boosted their price objective on eBay from $47.00 to $48.00 and gave the company a "hold" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $49.21.

Insider Activity at eBay

In related news, SVP Edward O. Garcia sold 1,165 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total value of $50,129.95. Following the sale, the senior vice president now owns 31,888 shares in the company, valued at approximately $1,372,140.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

eBay Company 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.