First Citizens Bank & Trust Co. Sells 143 Shares of Electronic Arts Inc. (NASDAQ:EA)

First Citizens Bank & Trust Co. lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,993 shares of the game software company’s stock after selling 143 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Electronic Arts were worth $2,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in EA. Putney Financial Group LLC bought a new stake in shares of Electronic Arts during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in Electronic Arts in the 4th quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts in the 4th quarter worth approximately $33,000. Millstone Evans Group LLC bought a new stake in Electronic Arts in the 4th quarter worth approximately $37,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the 1st quarter worth approximately $40,000. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, CFO Stuart Canfield sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,533 shares of the company’s stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 2,666 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total value of $402,379.38. Following the completion of the sale, the chief executive officer now directly owns 67,393 shares of the company’s stock, valued at $10,171,625.49. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock worth $4,107,664 in the last quarter. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $146.92 on Tuesday. 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 stock has a 50-day moving average price of $145.95 and a 200 day moving average price of $143.44. The stock has a market capitalization of $36.84 billion, a P/E ratio of 37.38, a P/E/G ratio of 3.58 and a beta of 0.71.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s dividend payout ratio is presently 17.92%.

Wall Street Analysts Forecast Growth

EA has been the topic of several research analyst reports. Citigroup reissued a “neutral” rating and set a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. The Goldman Sachs Group boosted their target price on Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Argus set a $170.00 price target on Electronic Arts in a report on Friday, May 16th. Robert W. Baird set a $168.00 price target on Electronic Arts in a report on Wednesday, May 7th. Finally, Oppenheimer upped their price target on Electronic Arts from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and an average price target of $161.88.

Electronic Arts Profile

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.