PNC Financial Services Group Inc. Sells 6,565 Shares of Electronic Arts Inc. (NASDAQ:EA)

PNC Financial Services Group Inc. trimmed its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,430 shares of the game software company's stock after selling 6,565 shares during the period. PNC Financial Services Group Inc.'s holdings in Electronic Arts were worth $6,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Putney Financial Group LLC bought a new stake in shares of Electronic Arts during the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts during the 1st quarter worth about $28,000. Bank of Jackson Hole Trust grew its holdings in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in Electronic Arts in the 4th quarter valued at about $33,000. Finally, Wayfinding Financial LLC acquired a new stake in Electronic Arts in the 1st quarter valued at about $39,000. Institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Up 1.2%

NASDAQ:EA opened at $163.00 on Thursday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average price is $152.28 and its two-hundred day moving average price is $143.64.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio is 19.05%.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $152.21, for a total transaction of $761,050.00. Following the transaction, the chief executive officer owned 57,393 shares in the company, valued at $8,735,788.53. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,729 shares of company stock valued at $4,677,124. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EA has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group upped their price objective on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Citigroup reissued a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Wedbush reiterated an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a report on Tuesday, July 22nd. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.35.

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.

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