Huntington National Bank Has $64.72 Million Holdings in Electronic Arts Inc. $EA

Huntington National Bank raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,276 shares of the game software company’s stock after purchasing an additional 31,447 shares during the period. Huntington National Bank owned 0.16% of Electronic Arts worth $64,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EA. Salomon & Ludwin LLC raised its stake in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after purchasing an additional 68 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Frazier Financial Advisors LLC raised its stake in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after purchasing an additional 148 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Electronic Arts during the 1st quarter worth about $39,000. Finally, Costello Asset Management INC purchased a new stake in shares of Electronic Arts during the 1st quarter worth about $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EA. Bank of America raised their price target on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Oppenheimer lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 30th. TD Cowen lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Jefferies Financial Group lowered Electronic Arts from a “buy” rating to a “hold” rating and boosted their target price for the stock from $200.00 to $210.00 in a report on Tuesday, September 30th. Finally, Cowen lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $181.64.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $199.89 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $186.73 and its two-hundred day moving average is $165.53. The company has a market cap of $50.01 billion, a P/E ratio of 58.45, a P/E/G ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s payout ratio is currently 22.22%.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the transaction, the executive vice president directly owned 26,080 shares of the company’s stock, valued at $4,473,241.60. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the transaction, the chief executive officer directly owned 52,393 shares in the company, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,400 shares of company stock worth $7,359,462. 0.24% of the stock is currently owned by company insiders.

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.