M&T Bank Corp Has $5.23 Million Position in Electronic Arts Inc. (NASDAQ:EA)

M&T Bank Corp lessened its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,179 shares of the game software company's stock after selling 2,890 shares during the quarter. M&T Bank Corp's holdings in Electronic Arts were worth $5,229,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ninety One SA PTY Ltd boosted its stake in shares of Electronic Arts by 260.8% during the 1st quarter. Ninety One SA PTY Ltd now owns 52,127 shares of the game software company's stock valued at $7,498,000 after buying an additional 37,678 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Electronic Arts by 50.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,437 shares of the game software company's stock valued at $930,000 after purchasing an additional 2,169 shares in the last quarter. Security National Bank of SO Dak increased its position in Electronic Arts by 1.4% in the 1st quarter. Security National Bank of SO Dak now owns 8,734 shares of the game software company's stock worth $1,262,000 after purchasing an additional 121 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Electronic Arts by 38.7% during the 1st quarter. TD Private Client Wealth LLC now owns 9,078 shares of the game software company's stock worth $1,312,000 after purchasing an additional 2,532 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Electronic Arts by 17.8% in the 1st quarter. Penserra Capital Management LLC now owns 10,155 shares of the game software company's stock valued at $1,466,000 after buying an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Price Performance

NASDAQ EA traded down $2.61 during trading on Friday, reaching $148.69. 1,840,332 shares of the company traded hands, compared to its average volume of 2,813,522. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a market cap of $37.36 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.05 and a beta of 0.73. The stock's 50 day moving average price is $151.14 and its two-hundred day moving average price is $142.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. Electronic Arts's dividend payout ratio is presently 17.92%.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $150.64, for a total transaction of $753,200.00. Following the completion of the transaction, the chief executive officer directly owned 62,393 shares of the company's stock, valued at $9,398,881.52. This trade represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $159.50, for a total transaction of $398,750.00. Following the sale, the insider directly owned 60,592 shares in the company, valued at $9,664,424. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock worth $4,784,679 in the last quarter. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on EA shares. Robert W. Baird set a $168.00 target price on shares of Electronic Arts in a research report on Wednesday, May 7th. Benchmark increased their target price on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. TD Cowen boosted their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and upped their price target for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.71.

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.