Electronic Arts Inc. (NASDAQ:EA) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,174 shares of the game software company's stock after selling 7,524 shares during the quarter. M&T Bank Corp's holdings in Electronic Arts were worth $5,763,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Ninety One UK Ltd boosted its holdings in Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company's stock worth $596,825,000 after buying an additional 53,237 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Electronic Arts by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company's stock worth $583,162,000 after acquiring an additional 18,376 shares during the last quarter. Legal & General Group Plc increased its position in shares of Electronic Arts by 2.1% during the second quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company's stock worth $367,789,000 after purchasing an additional 53,800 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Electronic Arts by 3.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,088,170 shares of the game software company's stock valued at $290,945,000 after purchasing an additional 76,621 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Electronic Arts by 29.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company's stock valued at $215,725,000 after purchasing an additional 354,005 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EA shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $160.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. BMO Capital Markets reissued an "outperform" rating and issued a $160.00 price objective (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Wedbush reaffirmed an "outperform" rating and set a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. Argus boosted their target price on shares of Electronic Arts from $161.00 to $183.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Electronic Arts from $155.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Electronic Arts currently has a consensus rating of "Moderate Buy" and an average price target of $165.37.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $164.45, for a total transaction of $164,450.00. Following the completion of the transaction, the insider now directly owns 30,216 shares of the company's stock, valued at $4,969,021.20. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares of the company's stock, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,000 shares of company stock valued at $3,086,270. Insiders own 0.22% of the company's stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock traded down $4.97 on Friday, hitting $157.62. The stock had a trading volume of 2,807,531 shares, compared to its average volume of 2,043,518. The stock has a market cap of $41.34 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 2.14 and a beta of 0.79. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $168.50. The company's 50 day moving average price is $155.72 and its 200 day moving average price is $147.22.

Electronic Arts Announces Dividend

The firm also recently disclosed 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 0.48%. Electronic Arts's dividend payout ratio 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.