US Bancorp DE Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

US Bancorp DE reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,410 shares of the game software company’s stock after selling 6,347 shares during the quarter. US Bancorp DE owned about 0.05% of Electronic Arts worth $19,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. purchased a new position in shares of Electronic Arts in the 3rd quarter valued at $227,000. First Trust Direct Indexing L.P. increased its holdings in shares of Electronic Arts by 4.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,821 shares of the game software company’s stock valued at $835,000 after acquiring an additional 222 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Electronic Arts by 109.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,351 shares of the game software company’s stock valued at $481,000 after acquiring an additional 1,749 shares during the period. abrdn plc increased its holdings in shares of Electronic Arts by 59.2% in the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares during the period. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of Electronic Arts by 4.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,655 shares of the game software company’s stock valued at $381,000 after acquiring an additional 120 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Electronic Arts in a report on Thursday, July 11th. They issued a “buy” rating and a $165.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their price objective on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Electronic Arts has a consensus rating of “Moderate Buy” and an average price target of $164.39.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now directly owns 7,553 shares in the company, valued at approximately $1,120,638.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now directly owns 7,553 shares in the company, valued at approximately $1,120,638.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the sale, the insider now owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,644 shares of company stock worth $3,491,207 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $151.26 on Friday. The stock has a 50-day simple moving average of $144.96 and a two-hundred day simple moving average of $140.19. The firm has a market capitalization of $39.96 billion, a P/E ratio of 38.88, a PEG ratio of 2.04 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $153.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.43.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts forecast that Electronic Arts Inc. will post 5.93 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts’s dividend payout ratio is presently 19.54%.

About Electronic Arts

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.