Comerica Bank Has $7.24 Million Stock Position in Electronic Arts Inc. $EA

Key Points

• Comerica Bank has reduced its holdings in Electronic Arts Inc. by 8.9%, selling 4,897 shares to hold a total of 50,126 shares, worth approximately $7.24 million.
• Electronic Arts is currently priced at $172.60 per share, with a market capitalization of $43.19 billion and a P/E ratio of 43.26.
• The company has announced a quarterly dividend of $0.19 per share, which will be paid on September 17th, 2023, reflecting a dividend yield of 0.4%.

Comerica Bank cut its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 50,126 shares of the game software company's stock after selling 4,897 shares during the period. Comerica Bank's holdings in Electronic Arts were worth $7,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EA. Brighton Jones LLC grew its position in Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after purchasing an additional 294 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Electronic Arts by 4.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,949 shares of the game software company's stock worth $432,000 after purchasing an additional 113 shares during the last quarter. Boothbay Fund Management LLC grew its position in Electronic Arts by 86.3% in the 4th quarter. Boothbay Fund Management LLC now owns 4,865 shares of the game software company's stock worth $712,000 after purchasing an additional 2,254 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Electronic Arts by 0.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 155,736 shares of the game software company's stock worth $22,784,000 after purchasing an additional 487 shares during the last quarter. Finally, Northern Trust Corp grew its position in Electronic Arts by 12.4% in the 4th quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock worth $476,540,000 after purchasing an additional 360,563 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the transaction, the chief executive officer directly owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the transaction, the executive vice president directly owned 29,948 shares in the company, valued at $4,452,968.12. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,400 shares of company stock valued at $4,349,372 in the last three months. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Argus set a $170.00 target price on shares of Electronic Arts in a research report on Friday, May 16th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a research report on Monday, July 28th. The Goldman Sachs Group upped their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Finally, Wedbush restated an "outperform" rating and set a $210.00 price target on shares of Electronic Arts in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Trading Up 0.6%

Shares of EA stock traded up $0.96 during trading hours on Monday, reaching $171.95. 2,090,020 shares of the stock traded hands, compared to its average volume of 2,970,098. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The business has a fifty day moving average price of $160.54 and a 200 day moving average price of $149.24. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $43.02 billion, a PE ratio of 43.10, a PEG ratio of 2.22 and a beta of 0.75.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts's payout ratio is presently 19.05%.

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.