Westpac Banking Corp Has $4.72 Million Position in eBay Inc. (NASDAQ:EBAY)

Westpac Banking Corp trimmed its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,222 shares of the e-commerce company's stock after selling 6,530 shares during the period. Westpac Banking Corp's holdings in eBay were worth $4,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EBAY. HighPoint Advisor Group LLC lifted its position in eBay by 4.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,904 shares of the e-commerce company's stock worth $267,000 after acquiring an additional 172 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of eBay by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 883,986 shares of the e-commerce company's stock worth $54,763,000 after purchasing an additional 99,608 shares during the last quarter. FSB Premier Wealth Management Inc. boosted its stake in eBay by 16.1% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 15,799 shares of the e-commerce company's stock valued at $979,000 after purchasing an additional 2,196 shares during the period. Brandywine Global Investment Management LLC grew its holdings in eBay by 49.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 665,814 shares of the e-commerce company's stock valued at $41,247,000 after buying an additional 221,129 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in eBay by 34.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,330 shares of the e-commerce company's stock worth $268,000 after buying an additional 1,105 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

EBAY has been the subject of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of eBay in a research report on Thursday, February 27th. Wedbush initiated coverage on shares of eBay in a research note on Monday, December 9th. They set a "neutral" rating and a $70.00 target price for the company. Benchmark raised their price target on shares of eBay from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Bank of America cut their price objective on shares of eBay from $72.00 to $71.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their target price on eBay from $64.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.46.

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 1,033 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the sale, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,225,644.40. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the transaction, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,676 shares of company stock worth $2,613,807. 0.38% of the stock is owned by corporate insiders.

eBay Price Performance

eBay stock traded down $3.96 during trading hours on Friday, hitting $62.40. 8,338,448 shares of the stock were exchanged, compared to its average volume of 4,879,330. The business's 50-day moving average is $67.26 and its two-hundred day moving average is $65.03. eBay Inc. has a 12 month low of $48.52 and a 12 month high of $71.61. The stock has a market capitalization of $29.08 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.22 and a beta of 1.43. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, March 14th. This is a boost from eBay's previous quarterly dividend of $0.27. eBay's dividend payout ratio is presently 29.07%.

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.