Huntington National Bank Boosts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Huntington National Bank raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338,870 shares of the game software company’s stock after buying an additional 80,968 shares during the quarter. Huntington National Bank’s holdings in Electronic Arts were worth $49,577,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after acquiring an additional 117 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts in the 4th quarter worth $32,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts in the fourth quarter worth $37,000. SBI Securities Co. Ltd. bought a new position in shares of Electronic Arts during the fourth quarter valued at $41,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Electronic Arts during the fourth quarter valued at $42,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Stock Up 0.8 %

Shares of EA opened at $145.67 on Wednesday. The business’s 50 day moving average is $133.15 and its 200 day moving average is $144.63. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The company has a market capitalization of $37.96 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.52%. Electronic Arts’s payout ratio is 19.34%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the transaction, the chief executive officer now owns 42,615 shares in the company, valued at $6,080,308.20. This trade represents a 10.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total transaction of $147,570.00. Following the completion of the sale, the insider now owns 29,216 shares in the company, valued at approximately $4,311,405.12. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock valued at $3,018,560. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EA shares. Moffett Nathanson upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, January 31st. Bank of America raised their target price on shares of Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Robert W. Baird cut their price objective on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, DA Davidson assumed coverage on Electronic Arts in a report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $155.65.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.