Federated Hermes Inc. Acquires 176,560 Shares of eBay Inc. (NASDAQ:EBAY)

Federated Hermes Inc. boosted its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 32.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 716,483 shares of the e-commerce company's stock after buying an additional 176,560 shares during the quarter. Federated Hermes Inc. owned approximately 0.15% of eBay worth $44,387,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in eBay by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company's stock valued at $3,489,000 after buying an additional 1,063 shares during the period. Kestra Investment Management LLC increased its stake in shares of eBay by 172.5% during the 4th quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company's stock worth $692,000 after purchasing an additional 7,074 shares during the last quarter. Van ECK Associates Corp lifted its stake in eBay by 5,091.9% in the fourth quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company's stock valued at $8,800,000 after purchasing an additional 139,315 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in eBay by 35.1% during the fourth quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company's stock valued at $503,000 after purchasing an additional 2,110 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in eBay in the fourth quarter worth $8,644,000. 87.48% of the stock is owned by institutional investors.

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eBay Price Performance

eBay stock traded up $2.26 during mid-day trading on Friday, reaching $64.73. 2,308,406 shares of the company's stock traded hands, compared to its average volume of 4,935,533. eBay Inc. has a 12-month low of $48.52 and a 12-month high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average of $66.55 and a two-hundred day moving average of $64.92. The company has a market cap of $30.16 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 2.22 and a beta of 1.43.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from eBay's previous quarterly dividend of $0.27. eBay's dividend payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EBAY. Bank of America cut their price target on eBay from $72.00 to $71.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of eBay in a report on Thursday, February 27th. Citigroup raised their price target on eBay from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus decreased their price objective on eBay from $64.00 to $63.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on eBay from $66.00 to $72.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.21.

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the sale, the chief financial officer now owns 65,080 shares in the company, valued at $4,225,644.40. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now owns 94,392 shares of the company's stock, valued at approximately $6,329,927.52. This trade represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,176 shares of company stock valued at $3,111,432. 0.38% of the stock is currently owned by company insiders.

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.