Fulton Bank N.A. Lowers Holdings in Electronic Arts Inc. $EA

Fulton Bank N.A. decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 64.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,973 shares of the game software company’s stock after selling 5,388 shares during the quarter. Fulton Bank N.A.’s holdings in Electronic Arts were worth $606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USS Investment Management Ltd lifted its position in Electronic Arts by 8.2% in the first quarter. USS Investment Management Ltd now owns 44,711 shares of the game software company’s stock valued at $9,111,000 after buying an additional 3,398 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Electronic Arts by 1.1% during the first quarter. IFM Investors Pty Ltd now owns 46,976 shares of the game software company’s stock valued at $9,577,000 after acquiring an additional 525 shares during the last quarter. Capricorn Fund Managers Ltd raised its stake in shares of Electronic Arts by 96.9% in the 1st quarter. Capricorn Fund Managers Ltd now owns 75,898 shares of the game software company’s stock valued at $15,473,000 after acquiring an additional 37,349 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Electronic Arts by 90.8% in the 1st quarter. iA Global Asset Management Inc. now owns 59,321 shares of the game software company’s stock valued at $12,094,000 after acquiring an additional 28,227 shares during the period. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of Electronic Arts by 469.2% in the 1st quarter. Impact Partnership Wealth LLC now owns 6,802 shares of the game software company’s stock worth $1,387,000 after acquiring an additional 5,607 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Electronic Arts stock opened at $205.21 on Friday. The stock has a 50 day moving average of $202.45 and a two-hundred day moving average of $202.48. Electronic Arts Inc. has a twelve month low of $146.97 and a twelve month high of $206.00. The stock has a market capitalization of $51.46 billion, a price-to-earnings ratio of 58.80, a PEG ratio of 2.31 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EA. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Citigroup upped their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $196.64.

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total value of $508,025.00. Following the completion of the sale, the insider owned 43,343 shares in the company, valued at $8,807,731.03. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the transaction, the chief executive officer owned 85,974 shares in the company, valued at $17,337,516.84. The trade was a 5.56% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 39,906 shares of company stock valued at $8,060,033. Corporate 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.