M&T Bank Corp Acquires 755 Shares of Electronic Arts Inc. (NASDAQ:EA)

M&T Bank Corp grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EAGet Rating) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,315 shares of the game software company’s stock after buying an additional 755 shares during the period. M&T Bank Corp’s holdings in Electronic Arts were worth $10,798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Electronic Arts by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,802,596 shares of the game software company’s stock worth $2,758,246,000 after purchasing an additional 149,746 shares during the last quarter. Public Investment Fund raised its position in shares of Electronic Arts by 12.7% in the 2nd quarter. Public Investment Fund now owns 16,011,844 shares of the game software company’s stock worth $1,947,841,000 after purchasing an additional 1,801,844 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Electronic Arts by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,493,753 shares of the game software company’s stock worth $1,398,216,000 after purchasing an additional 415,212 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Electronic Arts by 1.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,422,088 shares of the game software company’s stock worth $280,260,000 after purchasing an additional 34,163 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Electronic Arts by 5.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,354,276 shares of the game software company’s stock worth $272,413,000 after purchasing an additional 124,041 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $123.59, for a total value of $98,872.00. Following the sale, the insider now owns 26,155 shares in the company, valued at $3,232,496.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the sale, the chief executive officer now owns 85,274 shares in the company, valued at $10,304,510.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Tuesday, January 3rd. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,100 shares of company stock worth $1,626,881. Company insiders own 0.37% of the company’s stock.

Electronic Arts Stock Down 0.1 %

Shares of EA opened at $111.38 on Thursday. The stock has a market capitalization of $30.75 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 8.14 and a beta of 0.86. Electronic Arts Inc. has a 1 year low of $108.53 and a 1 year high of $142.79. The business’s 50 day simple moving average is $117.71 and its 200-day simple moving average is $122.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.23 and a quick ratio of 1.23.

Electronic Arts (NASDAQ:EAGet Rating) last released its quarterly earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($1.89). Electronic Arts had a net margin of 14.08% and a return on equity of 14.38%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts expect that Electronic Arts Inc. will post 4.44 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.76 annualized dividend and a yield of 0.68%. Electronic Arts’s payout ratio is presently 20.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Electronic Arts from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 1st. Credit Suisse Group decreased their target price on Electronic Arts from $154.00 to $132.00 in a research report on Wednesday, February 1st. Bank of America lowered Electronic Arts from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $155.00 to $130.00 in a research report on Wednesday, February 1st. Ascendiant Capital Markets decreased their target price on Electronic Arts from $156.00 to $152.00 and set a “buy” rating for the company in a research report on Monday, December 19th. Finally, Roth Capital reduced their price target on shares of Electronic Arts from $131.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.54.

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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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