Cetera Trust Company N.A Decreases Position in Electronic Arts Inc. (NASDAQ:EA)

Cetera Trust Company N.A lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 72.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508 shares of the game software company’s stock after selling 1,315 shares during the period. Cetera Trust Company N.A’s holdings in Electronic Arts were worth $73,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Electronic Arts by 14.7% in 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 during the period. Capital International Investors increased its position in shares of Electronic Arts by 16.4% in the 1st quarter. Capital International Investors now owns 5,901,257 shares of the game software company’s stock valued at $782,920,000 after acquiring an additional 833,492 shares during the period. Ninety One UK Ltd increased its position in shares of Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company’s stock valued at $596,825,000 after acquiring an additional 53,237 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Electronic Arts by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company’s stock valued at $583,162,000 after acquiring an additional 18,376 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Electronic Arts by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company’s stock valued at $367,789,000 after acquiring an additional 53,800 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EA. The Goldman Sachs Group upped their target price on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 target price on shares of Electronic Arts in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Bank of America increased their price target on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

Electronic Arts Price Performance

Electronic Arts stock traded down $0.14 during midday trading on Tuesday, reaching $145.57. The company had a trading volume of 406,043 shares, compared to its average volume of 2,049,965. The company has a market capitalization of $38.68 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.95 and a beta of 0.79. Electronic Arts Inc. has a 12-month low of $119.92 and a 12-month high of $153.51. The firm’s fifty day simple moving average is $145.16 and its 200-day simple moving average is $139.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. As a group, equities analysts anticipate that Electronic Arts Inc. will post 5.93 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders 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 dividend yield of 0.52%. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity

In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,770 shares of company stock worth $3,643,785 over the last ninety days. Corporate 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.