PNC Financial Services Group Inc. Lowers Holdings in Electronic Arts Inc. (NASDAQ:EA)

PNC Financial Services Group Inc. lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,995 shares of the game software company’s stock after selling 359 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Electronic Arts by 23.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 775,085 shares of the game software company’s stock worth $121,164,000 after purchasing an additional 146,707 shares during the period. Machina Capital S.A.S. grew its holdings in Electronic Arts by 109.0% during the 4th quarter. Machina Capital S.A.S. now owns 5,876 shares of the game software company’s stock valued at $860,000 after buying an additional 3,064 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Electronic Arts during the 4th quarter valued at approximately $1,275,000. West Family Investments Inc. grew its holdings in Electronic Arts by 13.9% during the 4th quarter. West Family Investments Inc. now owns 3,002 shares of the game software company’s stock valued at $439,000 after buying an additional 367 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in Electronic Arts by 5.2% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,489 shares of the game software company’s stock valued at $510,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $148.00, for a total value of $740,000.00. Following the transaction, the chief executive officer now owns 47,615 shares in the company, valued at $7,047,020. The trade was a 9.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $156.27, for a total value of $234,405.00. Following the completion of the transaction, the executive vice president now owns 24,886 shares in the company, valued at $3,888,935.22. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,500 shares of company stock worth $3,428,645. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 1.3 %

NASDAQ:EA opened at $136.12 on Thursday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a market cap of $35.48 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The stock has a fifty day simple moving average of $133.17 and a 200-day simple moving average of $145.03. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Analysts anticipate that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.76 annualized dividend and a dividend yield of 0.56%. Electronic Arts’s dividend payout ratio is currently 19.34%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EA shares. Ascendiant Capital Markets increased their price objective on shares of Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and set a $173.00 price objective on shares of Electronic Arts in a report on Thursday, January 23rd. DA Davidson initiated coverage on shares of Electronic Arts in a report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 target price for the company. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a report on Friday, January 31st. Finally, Benchmark cut their target price on shares of Electronic Arts from $163.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Thirteen research 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 “Hold” and an average target price of $154.78.

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.