Patton Albertson Miller Group LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Patton Albertson Miller Group LLC bought a new position in shares of eBay Inc. (NASDAQ:EBAY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,264 shares of the e-commerce company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the second quarter valued at about $26,000. Tortoise Investment Management LLC boosted its holdings in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in eBay during the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new position in eBay during the 1st quarter worth approximately $29,000. Finally, USA Financial Formulas acquired a new position in shares of eBay in the 3rd quarter worth approximately $38,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EBAY shares. TD Cowen increased their price objective on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price target on eBay from $70.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 1st. Sanford C. Bernstein raised eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Tuesday, November 5th. Jefferies Financial Group upped their target price on eBay from $58.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Mizuho lifted their target price on eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, eBay has an average rating of “Hold” and an average target price of $62.87.

eBay Stock Up 0.2 %

Shares of NASDAQ:EBAY opened at $65.09 on Wednesday. The business’s 50 day moving average is $63.57 and its 200 day moving average is $58.18. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The stock has a market cap of $31.18 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.66 and a beta of 1.34. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. eBay’s payout ratio is 27.14%.

Insider Activity

In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock worth $3,015,417 over the last quarter. Insiders own 0.38% of the company’s stock.

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.