Electronic Arts Inc. (NASDAQ:EA) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Electronic Arts Inc. by 7.7%, now owning approximately 613,358 shares valued at $88.64 million.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, with an annualized yield of 0.50%.
• Several analysts have upgraded their ratings on EA shares, with Benchmark raising the price target from $160 to $180.

TD Asset Management Inc trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 613,358 shares of the game software company's stock after selling 50,847 shares during the period. TD Asset Management Inc owned about 0.24% of Electronic Arts worth $88,642,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nomura Holdings Inc. grew its stake in Electronic Arts by 11.7% in the 4th quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock worth $4,566,000 after acquiring an additional 3,259 shares in the last quarter. Huntington National Bank grew its stake in Electronic Arts by 31.4% in the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock worth $49,577,000 after acquiring an additional 80,968 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock worth $94,456,000 after acquiring an additional 13,461 shares in the last quarter. GAMMA Investing LLC grew its stake in Electronic Arts by 11,587.9% in the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after acquiring an additional 663,640 shares in the last quarter. Finally, Arlington Partners LLC grew its stake in Electronic Arts by 23.3% in the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock worth $4,991,000 after acquiring an additional 6,532 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the sale, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total transaction of $398,750.00. Following the sale, the insider owned 60,592 shares in the company, valued at approximately $9,664,424. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,729 shares of company stock worth $4,822,884. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EA has been the topic of a number of research analyst reports. TD Cowen upped their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research note on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Robert W. Baird set a $168.00 price objective on shares of Electronic Arts in a research note on Wednesday, May 7th. Finally, Morgan Stanley increased their price objective 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. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.71.

Electronic Arts Stock Performance

Shares of Electronic Arts stock traded down $0.96 during trading on Friday, hitting $151.68. 1,450,551 shares of the company's stock were exchanged, compared to its average volume of 2,235,159. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day simple moving average of $151.04 and a 200-day simple moving average of $142.86. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.06 and a beta of 0.73.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts's dividend payout ratio (DPR) is presently 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.