Hartford Investment Management Co. Sells 13,000 Shares of eBay Inc. (NASDAQ:EBAY)

Posted by on Apr 1st, 2023

Hartford Investment Management Co. lessened its stake in eBay Inc. (NASDAQ:EBAY – Get Rating) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,264 shares of the e-commerce company’s stock after selling 13,000 shares during the quarter. Hartford Investment Management Co.’s holdings in eBay were worth $1,628,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC increased its holdings in shares of eBay by 49.0% in the third quarter. Eagle Bay Advisors LLC now owns 736 shares of the e-commerce company’s stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in eBay during the 3rd quarter worth $28,000. Romano Brothers AND Company bought a new stake in shares of eBay in the fourth quarter valued at about $29,000. Guardian Wealth Advisors LLC bought a new position in eBay during the third quarter worth about $40,000. Finally, General Partner Inc. acquired a new stake in eBay in the 4th quarter worth about $48,000. 85.51% of the stock is currently owned by institutional investors and hedge funds.

eBay Trading Up 1.0 %

NASDAQ EBAY opened at $44.37 on Friday. The business’s 50-day moving average price is $46.06 and its two-hundred day moving average price is $43.24. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.50. eBay Inc. has a 12 month low of $35.92 and a 12 month high of $60.38.

eBay (NASDAQ:EBAY – Get Rating) last announced its earnings results on Wednesday, February 22nd. The e-commerce company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. eBay had a positive return on equity of 34.14% and a negative net margin of 12.96%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Sell-side analysts expect that eBay Inc. will post 3.36 earnings per share for the current year.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were issued a $0.25 dividend. This is a positive change from eBay’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $1.00 annualized dividend and a yield of 2.25%. eBay’s payout ratio is presently -46.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EBAY shares. Citigroup started coverage on shares of eBay in a report on Tuesday, December 13th. They set a “neutral” rating and a $47.00 target price on the stock. Credit Suisse Group increased their target price on eBay from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of eBay from $55.00 to $50.00 in a research note on Thursday, February 23rd. Susquehanna upped their price target on shares of eBay from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, February 27th. Finally, Morgan Stanley increased their price target on shares of eBay from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, eBay has a consensus rating of “Hold” and a consensus target price of $49.13.

eBay Company Profile

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eBay, Inc is a commerce company, whose platforms include an online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. Its technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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