Matrix Asset Advisors Inc. NY lifted its stake in eBay Inc. (NASDAQ:EBAY – Get Rating) by 13.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 202,115 shares of the e-commerce company’s stock after purchasing an additional 23,485 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in eBay were worth $8,422,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in eBay during the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC increased its stake in eBay by 84.6% in the 1st quarter. Iron Horse Wealth Management LLC now owns 600 shares of the e-commerce company’s stock valued at $34,000 after buying an additional 275 shares during the period. Ellevest Inc. increased its stake in eBay by 66.6% in the 1st quarter. Ellevest Inc. now owns 603 shares of the e-commerce company’s stock valued at $35,000 after buying an additional 241 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new position in eBay in the 4th quarter valued at approximately $37,000. Finally, Hanson & Doremus Investment Management increased its stake in eBay by 62.8% in the 1st quarter. Hanson & Doremus Investment Management now owns 638 shares of the e-commerce company’s stock valued at $37,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Credit Suisse Group boosted their target price on shares of eBay from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Cowen decreased their target price on shares of eBay to $52.00 in a research report on Tuesday, August 9th. Piper Sandler decreased their target price on shares of eBay from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. Mizuho decreased their target price on shares of eBay from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Finally, JMP Securities began coverage on shares of eBay in a report on Wednesday, June 1st. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.43.
eBay Stock Performance
eBay (NASDAQ:EBAY – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The e-commerce company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.70 by $0.10. eBay had a net margin of 3.60% and a return on equity of 24.42%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Equities research analysts expect that eBay Inc. will post 3.27 earnings per share for the current fiscal year.
eBay Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.31%. eBay’s payout ratio is 209.53%.
eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.
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