Cornercap Investment Counsel Inc. Cuts Stake in eBay Inc. (NASDAQ:EBAY)

Cornercap Investment Counsel Inc. lessened its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,343 shares of the e-commerce company’s stock after selling 958 shares during the period. eBay makes up about 0.6% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 17th biggest holding. Cornercap Investment Counsel Inc.’s holdings in eBay were worth $1,818,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in eBay in the fourth quarter worth about $27,000. Quarry LP purchased a new stake in eBay in the 3rd quarter worth approximately $36,000. New Wave Wealth Advisors LLC acquired a new position in shares of eBay in the 4th quarter valued at $36,000. Lee Danner & Bass Inc. purchased a new stake in eBay during the fourth quarter worth $40,000. Finally, Versant Capital Management Inc grew its position in eBay by 115.5% during the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Trading Up 0.5 %

Shares of EBAY opened at $67.16 on Friday. The stock has a 50-day moving average price of $67.11 and a 200 day moving average price of $64.89. The company has a market capitalization of $31.30 billion, a P/E ratio of 16.87, a P/E/G ratio of 2.22 and a beta of 1.45. eBay Inc. has a one year low of $48.52 and a one year high of $71.61. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 annualized dividend and a yield of 1.73%. This is a boost from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is presently 29.07%.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction 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 directly owns 530,998 shares in the company, valued at $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction 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. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,241 shares of company stock valued at $1,061,665 in the last quarter. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on EBAY shares. Citigroup raised their price objective on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays set a $72.00 price target on shares of eBay and gave the stock an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of eBay in a research report on Thursday, February 27th. Wedbush initiated coverage on shares of eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Susquehanna boosted their price objective on eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.54.

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.