Bank of New York Mellon Corp Has $274.33 Million Stake in Electronic Arts Inc. $EA

Bank of New York Mellon Corp lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,630 shares of the game software company’s stock after selling 36,605 shares during the quarter. Bank of New York Mellon Corp owned 0.54% of Electronic Arts worth $274,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EA. Optas LLC raised its holdings in shares of Electronic Arts by 4.2% in the first quarter. Optas LLC now owns 1,332 shares of the game software company’s stock valued at $272,000 after purchasing an additional 54 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Macroview Investment Management LLC boosted its stake in Electronic Arts by 6.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after buying an additional 62 shares in the last quarter. Candriam S.C.A. raised its holdings in Electronic Arts by 0.3% during the 1st quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock valued at $5,033,000 after buying an additional 65 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Electronic Arts by 8.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company’s stock worth $190,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EA. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and an average price target of $196.64.

Electronic Arts Trading Up 0.5%

NASDAQ:EA opened at $208.90 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $203.38 and a 200-day simple moving average of $202.64. The company has a market capitalization of $52.38 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.64. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $209.19.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction 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 transaction, the chief financial officer owned 25,991 shares in the company, valued at $5,233,547.76. The trade was a 5.46% 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 ninety days, insiders sold 31,206 shares of company stock worth $6,292,058. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Company Profile

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.