Private Trust Co. NA Grows Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Posted by Defense World Staff on Mar 26th, 2023

Private Trust Co. NA grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,671 shares of the game software company’s stock after purchasing an additional 314 shares during the quarter. Private Trust Co. NA’s holdings in Electronic Arts were worth $571,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EA. Cetera Advisor Networks LLC boosted its position in shares of Electronic Arts by 11.7% in the first quarter. Cetera Advisor Networks LLC now owns 3,466 shares of the game software company’s stock worth $439,000 after acquiring an additional 363 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Electronic Arts by 8.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,459 shares of the game software company’s stock valued at $564,000 after purchasing an additional 347 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Electronic Arts by 3.8% during the 1st quarter. Cibc World Market Inc. now owns 14,997 shares of the game software company’s stock valued at $1,897,000 after buying an additional 548 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Electronic Arts by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 866,675 shares of the game software company’s stock valued at $109,653,000 after buying an additional 13,934 shares during the period. Finally, Prudential PLC increased its holdings in shares of Electronic Arts by 208.9% during the 1st quarter. Prudential PLC now owns 14,112 shares of the game software company’s stock worth $1,785,000 after buying an additional 9,544 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of research reports. Raymond James lowered their price target on Electronic Arts from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, February 1st. Citigroup dropped their target price on shares of Electronic Arts from $147.00 to $131.00 and set a “buy” rating for the company in a research report on Thursday, February 9th. Wedbush reduced their price target on shares of Electronic Arts from $164.00 to $139.00 in a research report on Wednesday, February 1st. Credit Suisse Group dropped their price objective on shares of Electronic Arts from $154.00 to $132.00 in a research report on Wednesday, February 1st. Finally, KeyCorp reduced their target price on shares of Electronic Arts from $155.00 to $138.00 and set an “overweight” rating on the stock in a report on Wednesday, February 1st. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.54.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $123.59, for a total transaction of $98,872.00. Following the sale, the insider now directly owns 26,155 shares of the company’s stock, valued at approximately $3,232,496.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $123.59, for a total value of $98,872.00. Following the transaction, the insider now directly owns 26,155 shares in the company, valued at approximately $3,232,496.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the sale, the chief executive officer now directly owns 85,274 shares of the company’s stock, valued at approximately $10,304,510.16. The disclosure for this sale can be found here. Insiders sold a total of 13,100 shares of company stock valued at $1,626,881 over the last three months. 0.37% of the stock is owned by insiders.

Electronic Arts Stock Performance

Shares of EA opened at $119.03 on Friday. The firm has a market cap of $32.86 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 8.44 and a beta of 0.86. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $116.01 and its two-hundred day moving average is $121.69. Electronic Arts Inc. has a 52-week low of $108.53 and a 52-week high of $142.79.

Electronic Arts (NASDAQ:EA – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($1.89). The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.50 billion. Electronic Arts had a net margin of 14.08% and a return on equity of 14.38%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 earnings per share. Analysts forecast that Electronic Arts Inc. will post 4.44 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st were paid a $0.19 dividend. The ex-dividend date was Tuesday, February 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.64%. Electronic Arts’s dividend payout ratio (DPR) is 20.49%.

Electronic Arts Company Profile

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Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.