Huntington National Bank Purchases 234,098 Shares of Electronic Arts Inc. (NASDAQ:EA)

Huntington National Bank increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 983.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,902 shares of the game software company’s stock after purchasing an additional 234,098 shares during the period. Huntington National Bank’s holdings in Electronic Arts were worth $36,993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EA. Ashton Thomas Securities LLC bought a new stake in shares of Electronic Arts during the third quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the second quarter valued at $28,000. Family Firm Inc. acquired a new position in shares of Electronic Arts during the second quarter valued at $33,000. New Covenant Trust Company N.A. acquired a new position in shares of Electronic Arts during the first quarter valued at $35,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Electronic Arts during the third quarter valued at $36,000. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EA. BMO Capital Markets reaffirmed an “outperform” rating and set a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Raymond James upped their price target on Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. Finally, Bank of America increased their target price on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Stock Down 0.1 %

NASDAQ:EA opened at $162.72 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $42.68 billion, a PE ratio of 41.83, a PEG ratio of 2.13 and a beta of 0.78. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $163.00. The stock has a 50-day simple moving average of $146.46 and a 200 day simple moving average of $142.05.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.47%. Electronic Arts’s dividend payout ratio is 19.54%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the sale, the insider now directly owns 50,433 shares of the company’s stock, valued at $7,969,926.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the completion of the sale, the insider now directly owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,144 shares of company stock worth $3,886,282 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

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.