Keybank National Association OH Acquires 5,893 Shares of Electronic Arts Inc. (NASDAQ:EA)

Keybank National Association OH increased its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 203.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,796 shares of the game software company's stock after acquiring an additional 5,893 shares during the period. Keybank National Association OH's holdings in Electronic Arts were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new stake in Electronic Arts in the fourth quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter worth $28,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts in the fourth quarter worth $33,000. Millstone Evans Group LLC bought a new stake in Electronic Arts in the fourth quarter worth $37,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the first quarter worth $40,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Down 1.1%

EA traded down $1.68 during midday trading on Friday, reaching $155.35. The company's stock had a trading volume of 1,321,185 shares, compared to its average volume of 2,821,253. The stock's 50-day moving average is $150.64 and its 200-day moving average is $142.38. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.11 and a beta of 0.73.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's payout ratio is 17.92%.

Insider Activity

In related news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the transaction, the chief financial officer owned 14,533 shares in the company, valued at $2,199,133.56. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $150.64, for a total transaction of $753,200.00. Following the transaction, the chief executive officer owned 62,393 shares in the company, valued at approximately $9,398,881.52. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,729 shares of company stock valued at $4,784,679. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

EA has been the subject of several recent research reports. Wedbush raised shares of Electronic Arts to a "strong-buy" rating in a research note on Tuesday, July 1st. Argus set a $170.00 price objective on shares of Electronic Arts in a research note on Friday, May 16th. The Goldman Sachs Group upped their price objective on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Wednesday, May 7th. Finally, Benchmark upped their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.80.

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.