Fifth Third Bancorp Reduces Position in Electronic Arts Inc. (NASDAQ:EA)

Fifth Third Bancorp reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,064 shares of the game software company's stock after selling 13,703 shares during the quarter. Fifth Third Bancorp's holdings in Electronic Arts were worth $6,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its position in shares of Electronic Arts by 15.0% in the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after buying an additional 73 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Electronic Arts by 34.2% in the first quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock valued at $43,000 after purchasing an additional 76 shares in the last quarter. Intrust Bank NA grew its position in shares of Electronic Arts by 3.3% in the fourth quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock valued at $362,000 after purchasing an additional 78 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Electronic Arts by 11.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company's stock worth $119,000 after purchasing an additional 81 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Electronic Arts by 4.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,951 shares of the game software company's stock worth $282,000 after purchasing an additional 84 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EA shares. DA Davidson started coverage on Electronic Arts in a report on Wednesday, February 19th. They set a "neutral" rating and a $140.00 target price on the stock. Benchmark upped their price objective on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wedbush lifted their price objective on Electronic Arts from $179.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their price target on shares of Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Electronic Arts has an average rating of "Hold" and a consensus target price of $161.88.

Insider Buying and Selling

In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $148.69, for a total transaction of $223,035.00. Following the sale, the executive vice president now directly owns 29,948 shares in the company, valued at approximately $4,452,968.12. This trade represents a 4.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 2,666 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $150.93, for a total value of $402,379.38. Following the completion of the transaction, the chief executive officer now owns 67,393 shares of the company's stock, valued at approximately $10,171,625.49. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,229 shares of company stock valued at $4,330,699. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Trading Down 0.5%

NASDAQ:EA traded down $0.77 on Tuesday, hitting $150.33. 2,241,305 shares of the stock were exchanged, compared to its average volume of 2,761,772. The stock has a fifty day moving average of $147.52 and a 200-day moving average of $142.97. The stock has a market cap of $37.70 billion, a PE ratio of 35.46, a PEG ratio of 2.08 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, May 28th. Electronic Arts's payout ratio is currently 17.92%.

Electronic Arts 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.