Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in Electronic Arts Inc. $EA

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 51.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 428,785 shares of the game software company’s stock after acquiring an additional 146,138 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Electronic Arts were worth $68,477,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EA. National Pension Service lifted its stake in Electronic Arts by 0.3% in the 2nd quarter. National Pension Service now owns 448,520 shares of the game software company’s stock valued at $71,629,000 after buying an additional 1,313 shares in the last quarter. STF Management LP raised its stake in Electronic Arts by 2.0% in the 2nd quarter. STF Management LP now owns 3,944 shares of the game software company’s stock valued at $630,000 after purchasing an additional 76 shares during the last quarter. Vise Technologies Inc. purchased a new position in Electronic Arts in the 2nd quarter valued at $702,000. Cahill Financial Advisors Inc. purchased a new stake in shares of Electronic Arts during the second quarter worth $216,000. Finally, Allworth Financial LP grew its stake in Electronic Arts by 72.3% during the 2nd quarter. Allworth Financial LP now owns 2,014 shares of the game software company’s stock valued at $322,000 after acquiring an additional 845 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the transaction, the chief financial officer owned 5,140 shares of the company’s stock, valued at $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $171.69, for a total transaction of $429,225.00. Following the transaction, the insider owned 55,592 shares in the company, valued at approximately $9,544,590.48. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 39,400 shares of company stock valued at $7,359,462. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Trading Up 0.0%

EA opened at $202.00 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $50.38 billion, a price-to-earnings ratio of 59.06, a PEG ratio of 3.04 and a beta of 0.74. The business has a fifty day moving average price of $190.90 and a 200 day moving average price of $168.13. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $1.11 earnings per share. The company’s revenue was down 12.6% compared to the same quarter last year. Sell-side analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on EA shares. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an “equal weight” rating in a report on Monday, July 28th. Benchmark reiterated a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. BMO Capital Markets upped their price target on Electronic Arts from $166.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, September 30th. Roth Capital downgraded Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. Finally, TD Cowen cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $181.64.

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.