TD Asset Management Inc Reduces Stock Holdings in Electronic Arts Inc. $EA

TD Asset Management Inc lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 79.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,676 shares of the game software company’s stock after selling 455,901 shares during the period. TD Asset Management Inc’s holdings in Electronic Arts were worth $24,249,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Pentwater Capital Management LP purchased a new stake in shares of Electronic Arts in the 3rd quarter worth about $968,160,000. Norges Bank purchased a new position in shares of Electronic Arts during the fourth quarter valued at about $643,674,000. Ameriprise Financial Inc. increased its position in shares of Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after buying an additional 1,300,336 shares during the period. Man Group plc boosted its position in Electronic Arts by 165.5% during the 2nd quarter. Man Group plc now owns 1,279,249 shares of the game software company’s stock valued at $204,296,000 after acquiring an additional 797,461 shares in the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Electronic Arts during the 3rd quarter worth approximately $156,760,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of EA stock opened at $203.00 on Monday. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. Electronic Arts Inc. has a one year low of $145.54 and a one year high of $204.88. The company’s 50-day moving average is $202.21 and its 200 day moving average is $202.30.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 21.78%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.64.

Insider Activity

In related news, CEO Andrew Wilson sold 5,066 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the sale, the chief financial officer owned 25,991 shares in the company, valued at approximately $5,233,547.76. This represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 39,906 shares of company stock valued at $8,032,336 in the last quarter. Insiders own 0.24% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.