Huntington National Bank Purchases 31,447 Shares of Electronic Arts Inc. $EA

Huntington National Bank increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 405,276 shares of the game software company’s stock after purchasing an additional 31,447 shares during the period. Huntington National Bank’s holdings in Electronic Arts were worth $64,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC increased its position in shares of Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after purchasing an additional 68 shares during the period. Bank of Jackson Hole Trust boosted its stake in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Frazier Financial Advisors LLC grew its stake in shares of Electronic Arts by 328.9% during the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Electronic Arts during the first quarter valued at approximately $39,000. Finally, Costello Asset Management INC acquired a new position in shares of Electronic Arts during the first quarter valued at $40,000. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $200.80, for a total value of $240,960.00. Following the sale, the executive vice president directly owned 24,880 shares in the company, valued at approximately $4,995,904. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $200.31, for a total transaction of $240,372.00. Following the completion of the sale, the insider owned 32,331 shares in the company, valued at approximately $6,476,222.61. This trade represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 39,400 shares of company stock valued at $7,359,462. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EA has been the topic of several research reports. UBS Group set a $210.00 price target on Electronic Arts and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Jefferies Financial Group lowered Electronic Arts from a “buy” rating to a “hold” rating and upped their price target for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. DZ Bank lowered Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $210.00 price target (up previously from $170.00) on shares of Electronic Arts in a research note on Monday, September 29th. Finally, Arete raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price target on the stock in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.64.

Electronic Arts Trading Down 0.1%

NASDAQ EA opened at $199.89 on Tuesday. The stock has a 50-day simple moving average of $186.73 and a 200 day simple moving average of $165.53. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $50.01 billion, a PE ratio of 58.45, a P/E/G ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 22.22%.

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.