US Bancorp DE Reduces Holdings in Electronic Arts Inc. $EA

Key Points

• US Bancorp DE reduced its holdings in Electronic Arts Inc. by 7.1% in the 2nd quarter, now owning 106,645 shares valued at approximately $17 million.
• Several institutional investors, including Shell Asset Management Co. and Maryland State Retirement & Pension System, also adjusted their positions in Electronic Arts during the same period.
• Analyst ratings for Electronic Arts include a consensus rating of "Hold" with a target price of $177.00, amidst various upgrades and downgrades from different equity research firms.

US Bancorp DE lowered its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 106,645 shares of the game software company's stock after selling 8,185 shares during the quarter. US Bancorp DE's holdings in Electronic Arts were worth $17,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Maryland State Retirement & Pension System lifted its holdings in Electronic Arts by 2.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 12,677 shares of the game software company's stock worth $2,025,000 after buying an additional 324 shares during the period. Optas LLC purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $359,000. Shell Asset Management Co. lifted its holdings in Electronic Arts by 26.6% in the 2nd quarter. Shell Asset Management Co. now owns 21,497 shares of the game software company's stock worth $3,433,000 after buying an additional 4,520 shares during the period. TriaGen Wealth Management LLC purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $4,640,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in Electronic Arts by 2.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 88,533 shares of the game software company's stock worth $14,139,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wedbush reiterated a "neutral" rating and issued a $200.00 price objective on shares of Electronic Arts in a report on Monday, September 29th. DA Davidson increased their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Cowen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Roth Capital lowered Electronic Arts from a "buy" rating to a "neutral" rating and increased their target price for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company set a $168.00 target price on Electronic Arts and gave the stock an "equal weight" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Electronic Arts has a consensus rating of "Hold" and a consensus target price of $177.00.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the sale, the executive vice president owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction on Monday, September 29th. The stock was sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the sale, the chief financial officer directly owned 5,140 shares of the company's stock, valued at approximately $1,045,476. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $7,247,635 in the last 90 days. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Stock Down 0.0%

EA stock opened at $200.01 on Friday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market cap of $50.05 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. The business has a 50 day moving average of $177.15 and a 200 day moving average of $158.51.

Electronic Arts Dividend Announcement

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

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.

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