TD Asset Management Inc Sells 15,222 Shares of Electronic Arts Inc. $EA

TD Asset Management Inc lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 2.5% during the 2nd quarter, Holdings Channel reports. The firm owned 598,136 shares of the game software company’s stock after selling 15,222 shares during the period. TD Asset Management Inc’s holdings in Electronic Arts were worth $95,522,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after acquiring an additional 294 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Electronic Arts by 45.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company’s stock worth $2,370,000 after acquiring an additional 5,130 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Electronic Arts during the 1st quarter worth approximately $28,000. Mission Wealth Management LP boosted its stake in Electronic Arts by 11.5% during the 1st quarter. Mission Wealth Management LP now owns 4,474 shares of the game software company’s stock worth $647,000 after acquiring an additional 461 shares during the last quarter. Finally, Montecito Bank & Trust boosted its stake in Electronic Arts by 14.8% during the 1st quarter. Montecito Bank & Trust now owns 4,608 shares of the game software company’s stock worth $666,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird reissued a “neutral” rating and set a $210.00 price objective (up previously from $170.00) on shares of Electronic Arts in a research note on Monday, September 29th. Wells Fargo & Company set a $168.00 price objective on shares of Electronic Arts and gave the stock an “equal weight” rating in a research note on Monday, July 28th. Jefferies Financial Group lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $200.00 to $210.00 in a research note on Tuesday, September 30th. Oppenheimer downgraded shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 30th. Finally, Cowen downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $177.00.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $172.79, for a total value of $863,950.00. Following the sale, the chief executive officer directly owned 47,393 shares in the company, valued at $8,189,036.47. This trade represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the sale, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock valued at $7,025,155 over the last ninety days. Insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $200.20 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The company has a market capitalization of $50.09 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. The firm’s 50 day moving average is $178.74 and its 200-day moving average is $159.37.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were issued a $0.19 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 19.05%.

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.