Bank of New York Mellon Corp Lowers Position in eBay Inc. (NASDAQ:EBAY)

Bank of New York Mellon Corp reduced its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,073,356 shares of the e-commerce company's stock after selling 76,817 shares during the period. Bank of New York Mellon Corp owned 0.81% of eBay worth $218,821,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of eBay in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of eBay in the 2nd quarter worth approximately $29,000. Washington Trust Advisors Inc. bought a new position in shares of eBay during the 1st quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in eBay during the 1st quarter valued at $29,000. Finally, American National Bank lifted its position in eBay by 200.0% in the first quarter. American National Bank now owns 600 shares of the e-commerce company's stock worth $32,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

Insider Activity

In other eBay news, SVP Julie A. Loeger sold 7,419 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the sale, the senior vice president now directly owns 70,797 shares of the company's stock, valued at $3,837,197.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Rebecca Spencer sold 2,083 shares of eBay stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total value of $111,690.46. Following the transaction, the chief accounting officer now directly owns 4,109 shares of the company's stock, valued at $220,324.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Julie A. Loeger sold 7,419 shares of the firm's stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $54.20, for a total value of $402,109.80. Following the sale, the senior vice president now owns 70,797 shares of the company's stock, valued at $3,837,197.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,488 shares of company stock worth $565,910. 0.38% of the stock is currently owned by corporate insiders.

eBay Stock Up 0.2 %

Shares of EBAY traded up $0.12 during mid-day trading on Monday, reaching $59.00. 3,196,936 shares of the stock traded hands, compared to its average volume of 5,591,674. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.58 and a beta of 1.31. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $59.47. The company has a quick ratio of 1.99, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $54.80 and a 200 day simple moving average of $51.98.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, August 30th. eBay's payout ratio is currently 21.51%.

Analyst Upgrades and Downgrades

EBAY has been the topic of several recent analyst reports. Bank of America increased their target price on shares of eBay from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Barclays upped their price objective on eBay from $61.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, May 2nd. TD Cowen increased their price target on shares of eBay from $42.00 to $45.00 and gave the company a "hold" rating in a research report on Thursday, May 2nd. StockNews.com upgraded shares of eBay from a "buy" rating to a "strong-buy" rating in a research note on Thursday, June 27th. Finally, Morgan Stanley upped their price target on eBay from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.65.

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.