TD Asset Management Inc Sells 15,222 Shares of Electronic Arts Inc. $EA

Key Points

• TD Asset Management Inc reduced its stake in Electronic Arts (EA) by 2.5%, selling 15,222 shares and holding approximately 0.24% of the company valued at $95.5 million.
• Recent analyst ratings for EA include a downgrade from "strong-buy" to "hold" by Hsbc Global Res, while Argus increased their price target from $180 to $210, maintaining a "buy" rating.
• EA declared a quarterly dividend of $0.19, which yields 0.4% annually, with a payout ratio of 19.05% as per the latest report.

TD Asset Management Inc cut its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598,136 shares of the game software company's stock after selling 15,222 shares during the period. TD Asset Management Inc owned approximately 0.24% of Electronic Arts worth $95,522,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EA. Brighton Jones LLC boosted its holdings 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 valued at $500,000 after purchasing an additional 294 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Electronic Arts by 45.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company's stock valued at $2,370,000 after buying an additional 5,130 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts in the 1st quarter valued at $28,000. Mission Wealth Management LP raised its stake in shares of Electronic Arts by 11.5% in the 1st quarter. Mission Wealth Management LP now owns 4,474 shares of the game software company's stock valued at $647,000 after buying an additional 461 shares in the last quarter. Finally, Montecito Bank & Trust raised its stake in shares of Electronic Arts by 14.8% in the 1st quarter. Montecito Bank & Trust now owns 4,608 shares of the game software company's stock valued at $666,000 after buying an additional 594 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EA. Hsbc Global Res cut shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Argus increased their price objective on shares of Electronic Arts from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Baird R W cut shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Jefferies Financial Group cut shares of Electronic Arts from a "buy" rating to a "hold" rating and increased their price objective for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. Finally, Cowen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Electronic Arts has an average rating of "Hold" and an average target price of $177.00.

Electronic Arts Trading Down 0.0%

EA opened at $200.20 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $50.09 billion, a PE ratio of 50.18, a PEG ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $203.75. The firm has a 50-day moving average price of $178.74 and a two-hundred day moving average price of $159.37.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is presently 19.05%.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total value of $855,250.00. Following the transaction, the chief executive officer owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. This trade represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $244,080.00. Following the completion of the transaction, the insider directly owned 33,531 shares in the company, valued at $6,820,205.40. This trade represents a 3.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,500 shares of company stock worth $7,025,155. 0.24% of the stock is currently owned by company insiders.

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.

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