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

Huntington National Bank lifted its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 983.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,902 shares of the game software company's stock after purchasing an additional 234,098 shares during the period. Huntington National Bank owned 0.10% of Electronic Arts worth $36,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Electronic Arts by 23.7% in the 1st quarter. Empowered Funds LLC now owns 9,631 shares of the game software company's stock valued at $1,278,000 after acquiring an additional 1,844 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Electronic Arts by 17.0% during the 1st quarter. Sei Investments Co. now owns 130,988 shares of the game software company's stock worth $17,379,000 after buying an additional 18,985 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Electronic Arts by 6.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,408 shares of the game software company's stock worth $452,000 after buying an additional 220 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Electronic Arts by 13.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company's stock valued at $46,258,000 after purchasing an additional 41,567 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Electronic Arts by 18.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 313,595 shares of the game software company's stock worth $41,605,000 after buying an additional 49,906 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EA. Robert W. Baird boosted their target price on shares of Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Roth Mkm raised their target price on Electronic Arts from $154.00 to $158.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Bank of America upped their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Finally, UBS Group boosted their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.37.

Electronic Arts Price Performance

NASDAQ:EA traded up $1.64 during mid-day trading on Thursday, hitting $164.36. 461,227 shares of the stock traded hands, compared to its average volume of 2,050,342. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $164.37. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $43.11 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The business's 50-day moving average price is $146.46 and its 200 day moving average price is $142.05.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts's payout ratio is 19.54%.

Insider Activity

In other news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total value of $186,946.20. Following the transaction, the chief financial officer now directly owns 7,553 shares of the company's stock, valued at $1,120,638.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is currently owned by corporate insiders.

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.