PNC Financial Services Group Inc. Grows Stock Holdings in eBay Inc. (NASDAQ:EBAY)

PNC Financial Services Group Inc. lifted its holdings in eBay Inc. (NASDAQ:EBAY) by 4.2% during the third quarter, Holdings Channel reports. The fund owned 186,059 shares of the e-commerce company’s stock after buying an additional 7,585 shares during the quarter. PNC Financial Services Group Inc.’s holdings in eBay were worth $12,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of eBay during the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC raised its position in eBay by 894.2% during 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 in the last quarter. LRI Investments LLC acquired a new position in eBay in the first quarter valued at approximately $29,000. Hobbs Group Advisors LLC purchased a new stake in eBay in the 2nd quarter worth approximately $29,000. Finally, Gradient Investments LLC grew its stake in shares of eBay by 86.3% during the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Up 3.0 %

Shares of NASDAQ:EBAY opened at $63.24 on Friday. eBay Inc. has a 52-week low of $40.16 and a 52-week high of $67.80. The stock has a market cap of $30.29 billion, a P/E ratio of 15.89, a PEG ratio of 1.59 and a beta of 1.34. The business has a fifty day moving average of $63.55 and a two-hundred day moving average of $57.86. 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 disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is currently 27.14%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EBAY. Deutsche Bank Aktiengesellschaft decreased their target price on shares of eBay from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus increased their target price on shares of eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. UBS Group cut their price target on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of eBay in a research report on Monday, October 7th. Finally, Susquehanna boosted their price objective on eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.87.

Insider Buying and Selling

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 value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,016 shares of company stock worth $3,015,417. 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.