TD Asset Management Inc Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

TD Asset Management Inc cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 12.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 740,332 shares of the game software company’s stock after selling 109,146 shares during the period. TD Asset Management Inc owned about 0.28% of Electronic Arts worth $103,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its position in shares of Electronic Arts by 23.5% in the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after acquiring an additional 94 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Electronic Arts by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock worth $291,000 after acquiring an additional 97 shares during the period. Claro Advisors LLC raised its position in shares of Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Electronic Arts by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after acquiring an additional 100 shares during the period. Finally, Cape Investment Advisory Inc. raised its position in shares of Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Down 0.8 %

Shares of NASDAQ EA opened at $145.91 on Friday. The company has a 50 day simple moving average of $145.55 and a 200-day simple moving average of $137.54. The company has a market capitalization of $38.77 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the sale, the chief executive officer now owns 61,747 shares in the company, valued at approximately $8,660,634.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total transaction of $350,650.00. Following the completion of the transaction, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The disclosure for this sale can be found here. Insiders sold 27,070 shares of company stock worth $3,963,638 in the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a research report on Tuesday, July 30th. Roth Mkm upped their price target on shares of Electronic Arts from $135.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Citigroup downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price target for the stock from $148.00 to $161.00 in a research report on Monday, July 15th. Robert W. Baird upped their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Benchmark upped their price target on shares of Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and an average target price of $161.28.

Electronic Arts Company 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.