Electronic Arts Inc. $EA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,647,823 shares of the game software company’s stock after selling 110,252 shares during the period. Bank of New York Mellon Corp owned 0.66% of Electronic Arts worth $263,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC lifted its holdings in shares of Electronic Arts by 38.8% in the second quarter. Freestone Capital Holdings LLC now owns 13,371 shares of the game software company’s stock valued at $2,135,000 after buying an additional 3,739 shares during the period. Machina Capital S.A.S. bought a new stake in Electronic Arts in the second quarter worth about $4,091,000. Bank of Montreal Can lifted its holdings in Electronic Arts by 14.3% in the 2nd quarter. Bank of Montreal Can now owns 326,682 shares of the game software company’s stock valued at $52,171,000 after acquiring an additional 40,848 shares during the last quarter. EPG Wealth Management LLC boosted its position in shares of Electronic Arts by 2.8% during the 2nd quarter. EPG Wealth Management LLC now owns 3,835 shares of the game software company’s stock valued at $612,000 after purchasing an additional 105 shares in the last quarter. Finally, Capital Management Associates NY bought a new position in shares of Electronic Arts during the 2nd quarter valued at about $415,000. 90.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the sale, the chief financial officer directly owned 5,140 shares in the company, valued at $1,045,476. The trade was a 55.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jacob J. Schatz sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the executive vice president directly owned 26,080 shares of the company’s stock, valued at approximately $4,473,241.60. The trade was a 4.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,400 shares of company stock valued at $7,359,462 in the last three months. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Zacks Research raised shares of Electronic Arts from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Baird R W cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. DA Davidson increased their price objective on Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Benchmark restated a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. Finally, HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and an average price target of $181.64.

Electronic Arts Trading Up 0.4%

NASDAQ:EA opened at $200.78 on Wednesday. The stock has a market cap of $50.24 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50-day moving average is $187.30 and its two-hundred day moving average is $165.92.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, December 3rd. Electronic Arts’s payout ratio is currently 22.22%.

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.