M&T Bank Corp Trims Stock Position in Electronic Arts Inc. (NASDAQ:EA)

M&T Bank Corp trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,069 shares of the game software company’s stock after selling 1,105 shares during the period. M&T Bank Corp’s holdings in Electronic Arts were worth $5,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Larson Financial Group LLC raised its holdings in shares of Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after buying an additional 70 shares during the last quarter. Claro Advisors LLC increased its stake in shares of Electronic Arts by 3.4% during the fourth quarter. Claro Advisors LLC now owns 2,285 shares of the game software company’s stock worth $334,000 after acquiring an additional 75 shares during the period. Prime Capital Investment Advisors LLC increased its stake in shares of Electronic Arts by 5.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after acquiring an additional 76 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Electronic Arts by 11.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company’s stock worth $119,000 after acquiring an additional 81 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of Electronic Arts by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company’s stock worth $550,000 after acquiring an additional 82 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Up 2.4 %

EA stock opened at $140.04 on Friday. The company’s 50 day simple moving average is $133.83 and its 200-day simple moving average is $145.33. The firm has a market capitalization of $36.50 billion, a PE ratio of 35.63, a P/E/G ratio of 3.58 and a beta of 0.79. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38.

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

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, February 26th. Electronic Arts’s payout ratio is 19.34%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EA. Robert W. Baird dropped their price target on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. DA Davidson began coverage on shares of Electronic Arts in a research note on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price target on the stock. Oppenheimer dropped their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Bank of America boosted their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, BNP Paribas lowered shares of Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Monday, January 27th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $154.78.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $148.00, for a total transaction of $740,000.00. Following the transaction, the chief executive officer now owns 47,615 shares of the company’s stock, valued at $7,047,020. This trade represents a 9.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $156.27, for a total transaction of $234,405.00. Following the transaction, the executive vice president now directly owns 24,886 shares in the company, valued at approximately $3,888,935.22. This 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 valued at $3,428,645. Company insiders own 0.22% of the company’s stock.

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.