PNC Financial Services Group Inc. raised its stake in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,723 shares of the game software company’s stock after acquiring an additional 1,553 shares during the period. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $5,434,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of EA. Vanguard Group Inc. increased its holdings in Electronic Arts by 16.3% during the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock valued at $3,086,621,000 after buying an additional 3,600,388 shares during the last quarter. Norges Bank purchased a new stake in shares of Electronic Arts during the fourth quarter valued at about $281,054,000. DNB Asset Management AS lifted its stake in shares of Electronic Arts by 82.3% during the fourth quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock worth $322,494,000 after buying an additional 1,064,022 shares during the period. Morgan Stanley boosted its holdings in Electronic Arts by 13.0% in the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after purchasing an additional 389,063 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Electronic Arts by 1,294.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 340,021 shares of the game software company’s stock worth $40,939,000 after acquiring an additional 315,631 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Electronic Arts Trading Up 0.5 %
NASDAQ EA opened at $135.06 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.33 and a current ratio of 1.37. The company has a 50-day simple moving average of $129.53 and a 200-day simple moving average of $134.71. The firm has a market capitalization of $35.98 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $144.53.
Electronic Arts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th will be given a $0.19 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.56%. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.
Insider Activity
In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $139.08, for a total transaction of $111,264.00. Following the sale, the insider now directly owns 27,883 shares of the company’s stock, valued at approximately $3,877,967.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Eric Charles Kelly sold 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total transaction of $401,250.00. Following the transaction, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $139.08, for a total transaction of $111,264.00. Following the completion of the sale, the insider now owns 27,883 shares in the company, valued at approximately $3,877,967.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,539 shares of company stock worth $3,532,914. Insiders own 0.20% of the company’s stock.
Wall Street Analysts Forecast Growth
EA has been the topic of a number of research analyst reports. Oppenheimer restated an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Tuesday, April 23rd. StockNews.com cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, May 8th. UBS Group dropped their target price on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Finally, BMO Capital Markets dropped their price target on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.
Get Our Latest Research Report on EA
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.
Further Reading
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Source: defenseworld.net
