Pitcairn Co. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 10.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,071 shares of the game software company’s stock after selling 500 shares during the period. Pitcairn Co.’s holdings in Electronic Arts were worth $584,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its position in Electronic Arts by 983.4% in the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Electronic Arts by 34.9% in the second quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock valued at $1,982,000 after buying an additional 3,681 shares during the period. Greenwood Capital Associates LLC bought a new position in Electronic Arts during the third quarter valued at about $5,597,000. Chesapeake Capital Corp IL acquired a new position in Electronic Arts during the third quarter worth about $950,000. Finally, Czech National Bank raised its position in Electronic Arts by 8.3% in the second quarter. Czech National Bank now owns 46,360 shares of the game software company’s stock worth $6,459,000 after acquiring an additional 3,554 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
EA has been the subject of several research reports. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and raised their price objective for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Morgan Stanley restated an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Stifel Nicolaus upped their price target on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Roth Mkm raised their price objective on Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus target price of $165.37.
Insider Activity
In other news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total transaction of $223,980.00. Following the transaction, the executive vice president now owns 27,860 shares of the company’s stock, valued at approximately $4,160,055.20. This represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the transaction, the chief executive officer now directly owns 54,247 shares in the company, valued at $7,675,950.50. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,884 shares of company stock worth $4,404,435 in the last three months. 0.22% of the stock is owned by insiders.
Electronic Arts Price Performance
Shares of NASDAQ:EA opened at $164.14 on Tuesday. The firm has a market cap of $43.05 billion, a price-to-earnings ratio of 42.20, a P/E/G ratio of 2.18 and a beta of 0.78. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $149.71 and a 200 day simple moving average of $144.23.
Electronic Arts Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.
Electronic Arts Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.
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