Huntington National Bank Cuts Position in Electronic Arts Inc. $EA

Huntington National Bank decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,581 shares of the game software company’s stock after selling 58,847 shares during the quarter. Huntington National Bank owned 0.06% of Electronic Arts worth $31,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EA. Ameriflex Group Inc. raised its position in Electronic Arts by 100.0% in the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. Oakworth Capital Inc. purchased a new stake in Electronic Arts in the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. raised its position in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after purchasing an additional 190 shares during the period. Salomon & Ludwin LLC raised its position in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Finally, Tidemark LLC purchased a new stake in Electronic Arts in the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ:EA opened at $200.68 on Thursday. The company has a fifty day simple moving average of $202.03 and a two-hundred day simple moving average of $202.25. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 57.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 52 week low of $141.19 and a 52 week high of $204.88.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is 21.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EA. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup boosted their target price on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, UBS Group reissued a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $196.64.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $199.95, for a total value of $499,875.00. Following the completion of the transaction, the insider owned 45,843 shares in the company, valued at $9,166,307.85. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the transaction, the executive vice president owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. This trade represents a 10.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 39,906 shares of company stock worth $8,032,336. 0.24% of the stock is currently owned by insiders.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.