The Manufacturers Life Insurance Company Boosts Holdings in eBay Inc. (NASDAQ:EBAY)

The Manufacturers Life Insurance Company raised its stake in shares of eBay Inc. (NASDAQ:EBAY) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,850,158 shares of the e-commerce company’s stock after purchasing an additional 316,576 shares during the period. The Manufacturers Life Insurance Company owned 0.80% of eBay worth $238,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in eBay during the fourth quarter valued at $27,000. Transce3nd LLC acquired a new stake in shares of eBay in the fourth quarter valued at about $36,000. New Wave Wealth Advisors LLC acquired a new stake in shares of eBay in the fourth quarter valued at about $36,000. Lee Danner & Bass Inc. acquired a new stake in shares of eBay in the fourth quarter valued at about $40,000. Finally, Versant Capital Management Inc raised its position in shares of eBay by 115.5% in the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after buying an additional 448 shares during the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at eBay

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total value of $77,267.07. Following the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,308,946.80. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,310 shares of company stock worth $3,121,626. 0.38% of the stock is owned by corporate insiders.

eBay Trading Up 0.9 %

NASDAQ:EBAY opened at $67.83 on Monday. The company has a market cap of $31.61 billion, a PE ratio of 17.04, a PEG ratio of 2.22 and a beta of 1.43. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average of $66.05 and a 200-day moving average of $64.96. eBay Inc. has a one year low of $48.52 and a one year high of $71.61.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.29 per share. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, March 14th. eBay’s dividend payout ratio is presently 29.07%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark lifted their price target on shares of eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target on shares of eBay from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley reduced their price target on shares of eBay from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Sanford C. Bernstein lowered shares of eBay from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $70.00 to $65.00 in a research report on Tuesday, April 22nd. Finally, Bank of America reduced their price target on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.79.

eBay 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.