Electronic Arts Inc. (NASDAQ:EA) Stake Lessened by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 18.9% during the second quarter, HoldingsChannel reports. The fund owned 123,471 shares of the game software company’s stock after selling 28,693 shares during the quarter. Toronto Dominion Bank’s holdings in Electronic Arts were worth $17,203,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB bought a new position in shares of Electronic Arts in the 1st quarter worth about $201,935,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Electronic Arts in the 1st quarter valued at about $189,055,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Electronic Arts during the 2nd quarter valued at about $188,159,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of EA stock opened at $143.61 on Friday. The company has a market capitalization of $38.16 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.91 and a beta of 0.79. Electronic Arts Inc. has a 1-year low of $117.47 and a 1-year high of $153.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $145.80 and its 200-day simple moving average is $137.88.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. On average, sell-side analysts predict that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.19 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s payout ratio is 16.24%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup downgraded Electronic Arts from a “buy” rating to a “neutral” rating and lifted their target price for the company from $148.00 to $161.00 in a research note on Monday, July 15th. Raymond James upped their price objective on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group started coverage on Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price on the stock. UBS Group upped their price target on shares of Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $154.00 price objective on shares of Electronic Arts in a research report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the transaction, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stuart Canfield sold 3,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,095,185. The disclosure for this sale can be found here. Insiders sold 24,570 shares of company stock valued at $3,621,343 in the last quarter. Company insiders own 0.22% of the company’s stock.

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.