Bank of New York Mellon Corp Sells 205,592 Shares of Electronic Arts Inc. $EA

Bank of New York Mellon Corp lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 12.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,382,235 shares of the game software company’s stock after selling 205,592 shares during the period. Bank of New York Mellon Corp’s holdings in Electronic Arts were worth $282,432,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Electronic Arts by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock valued at $5,879,205,000 after purchasing an additional 485,030 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Electronic Arts by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after purchasing an additional 143,195 shares during the last quarter. Pentwater Capital Management LP bought a new position in shares of Electronic Arts in the 3rd quarter valued at about $968,160,000. Ameriprise Financial Inc. boosted its stake in shares of Electronic Arts by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,591,869 shares of the game software company’s stock valued at $926,194,000 after purchasing an additional 374,840 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Electronic Arts by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after purchasing an additional 202,657 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $203.40 on Friday. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 58.28, a P/E/G ratio of 2.23 and a beta of 0.65. The firm’s 50 day simple moving average is $202.20 and its 200 day simple moving average is $202.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. Electronic Arts Inc. has a fifty-two week low of $145.54 and a fifty-two week high of $204.88.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Analysts Set New Price Targets

EA has been the topic of several recent research reports. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Citigroup increased their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $196.64.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the sale, the chief financial officer directly owned 25,991 shares in the company, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $200.54, for a total transaction of $501,350.00. Following the sale, the insider owned 40,843 shares in the company, valued at $8,190,655.22. This trade represents a 5.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,906 shares of company stock worth $8,032,336 over the last ninety days. Company insiders own 0.24% of the company’s stock.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.