PNC Financial Services Group Inc. Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

PNC Financial Services Group Inc. decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 49,995 shares of the game software company’s stock after selling 359 shares during the period. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $7,314,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Electronic Arts by 0.4% during the third quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock worth $954,358,000 after acquiring an additional 26,505 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Electronic Arts by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,789,283 shares of the game software company’s stock worth $261,772,000 after purchasing an additional 23,289 shares during the period. Swedbank AB lifted its holdings in shares of Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after purchasing an additional 95,190 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Electronic Arts by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock worth $213,089,000 after purchasing an additional 36,153 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Electronic Arts by 353.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company’s stock worth $185,692,000 after purchasing an additional 989,319 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Down 1.3 %

Shares of EA stock opened at $136.12 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $35.48 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 3.58 and a beta of 0.78. The stock has a 50 day simple moving average of $133.17 and a 200-day simple moving average of $145.03. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, equities research analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, February 26th. Electronic Arts’s payout ratio is 19.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Roth Mkm decreased their target price on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. DA Davidson assumed coverage on Electronic Arts in a report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 target price for the company. Benchmark decreased their target price on Electronic Arts from $163.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Robert W. Baird decreased their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $173.00 price target on shares of Electronic Arts in a report on Thursday, January 23rd. Thirteen 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 company presently has a consensus rating of “Hold” and a consensus price target of $154.78.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $148.00, for a total value of $740,000.00. Following the completion of the sale, the chief executive officer now directly owns 47,615 shares in the company, valued at $7,047,020. This represents a 9.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $156.27, for a total value of $234,405.00. Following the completion of the sale, the executive vice president now owns 24,886 shares of the company’s stock, valued at approximately $3,888,935.22. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,500 shares of company stock worth $3,428,645. 0.22% of the stock is owned by corporate insiders.

About Electronic Arts

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.