PNC Financial Services Group Inc. Acquires 1,553 Shares of Electronic Arts Inc. (NASDAQ:EA)

PNC Financial Services Group Inc. grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,723 shares of the game software company’s stock after acquiring an additional 1,553 shares during the period. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $5,434,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EA. Vanguard Group Inc. raised its position in Electronic Arts by 16.3% in the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock worth $3,086,621,000 after acquiring an additional 3,600,388 shares during the period. Norges Bank bought a new position in Electronic Arts in the fourth quarter worth approximately $281,054,000. DNB Asset Management AS raised its position in Electronic Arts by 82.3% in the fourth quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock worth $322,494,000 after acquiring an additional 1,064,022 shares during the period. Schroder Investment Management Group raised its position in Electronic Arts by 350.6% in the fourth quarter. Schroder Investment Management Group now owns 752,026 shares of the game software company’s stock worth $102,885,000 after acquiring an additional 585,123 shares during the period. Finally, Morgan Stanley raised its position in Electronic Arts by 13.0% in the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock worth $408,084,000 after acquiring an additional 389,063 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

EA stock opened at $138.13 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The firm has a market cap of $36.80 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.17 and a beta of 0.80. The business’s fifty day simple moving average is $130.62 and its two-hundred day simple moving average is $134.78. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $144.53.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.78 billion. Analysts predict that Electronic Arts Inc. will post 5.7 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 4,639 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total value of $622,321.85. Following the completion of the sale, the chief executive officer now owns 66,747 shares of the company’s stock, valued at approximately $8,954,110.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total value of $622,321.85. Following the completion of the transaction, the chief executive officer now owns 66,747 shares of the company’s stock, valued at approximately $8,954,110.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Eric Charles Kelly sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total value of $401,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The disclosure for this sale can be found here. Insiders sold 23,539 shares of company stock valued at $3,089,969 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EA. StockNews.com cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark reissued a “buy” rating and issued a $153.00 price objective on shares of Electronic Arts in a research note on Thursday, April 18th. Oppenheimer reissued an “outperform” rating and issued a $150.00 price objective on shares of Electronic Arts in a research note on Tuesday, April 23rd. Robert W. Baird reduced their price objective on shares of Electronic Arts from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Finally, BMO Capital Markets reduced their price objective on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.