Truist Financial Corp sells 785 shares of Electronic Arts Inc. (NASDAQ:EA)
Truist Financial Corp reduced its stake in Electronic Arts Inc. (NASDAQ: EA – Get Rating) by 1.8% in the first quarter, HoldingsChannel.com reports. The fund held 42,511 shares of the games software company after selling 785 shares during the period. Truist Financial Corp’s holdings in Electronic Arts were worth $5,379,000 when it last filed with the Securities & Exchange Commission.
Several other hedge funds have also recently changed their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its position in Electronic Arts by 82.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 922 shares of the games software company valued at $123,000 after purchasing an additional 416 shares during the period. ProShare Advisors LLC increased its position in Electronic Arts by 56.4% during the fourth quarter. ProShare Advisors LLC now owns 528,016 shares of the gaming software company valued at $69,645,000 after purchasing an additional 190,435 shares during the period. National Bank of Canada FI acquired a new stake in Electronic Arts during the fourth quarter valued at approximately $6,482,000. Pallas Capital Advisors LLC increased its position in Electronic Arts by 12.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 60,232 shares of the gaming software company valued at $8,373,000 after purchasing an additional 6,740 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Electronic Arts by 28.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,711 shares of the games software company valued at $2,204,000 after purchasing an additional 3,720 shares during the period. Hedge funds and other institutional investors hold 89.28% of the company’s shares.
Several analysts have recently released reports on EA shares. Deutsche Bank Aktiengesellschaft cut its price target on Electronic Arts shares from $170.00 to $165.00 in a Wednesday, May 11 research report. Wells Fargo & Company lowered its price target on Electronic Arts shares from $155.00 to $145.00 in a Wednesday, May 11 research report. Credit Suisse Group lowered its price target on Electronic Arts shares from $169.00 to $162.00 in a Wednesday (May 11) research report. StockNews.com upgraded Electronic Arts shares from a “hold” rating to a “buy” rating in a Wednesday, June 22 research report. Finally, Raymond James lowered his price target on Electronic Arts shares from $158.00 to $150.00 in a Wednesday, May 11 research report. Five equity research analysts gave the stock a hold rating and fourteen gave the stock a buy rating. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and an average target price of $154.55.
In other news, insider Jacob J. Schatz sold 1,000 shares of the company in a trade dated Monday, April 18. The shares were sold at an average price of $122.34, for a total value of $122,340.00. Following the transaction, the insider now directly owns 14,468 shares of the company, valued at $1,770,015.12. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. Additionally, insider Vijayanthimala Singh sold 800 shares of the company in a trade dated Monday, May 2. The stock was sold at an average price of $118.75, for a total transaction of $95,000.00. Following the completion of the transaction, the insider now owns 19,517 shares of the company, valued at $2,317,643.75. The disclosure of this sale can be found here. In the past three months, insiders have sold 60,295 shares of the company worth $7,732,812. Insiders own 0.37% of the shares of the company.
Electronic Arts stock opened at $122.29 on Friday. Electronic Arts Inc. has a 52-week low of $109.24 and a 52-week high of $147.76. The company has a market capitalization of $34.19 billion, a price-earnings ratio of 44.31, a PEG ratio of 2.04 and a beta of 0.84. The company has a quick ratio of 1.18, a current ratio of 1.18 and a leverage ratio of 0.25. The company’s fifty-day moving average is $128.85 and its 200-day moving average is $128.60.
Electronic Arts (NASDAQ:EA – Get Rating) last announced its results on Tuesday, May 10. The gaming software company reported earnings per share of $0.82 for the quarter, missing the consensus estimate of $1.04 per ($0.22). Electronic Arts achieved a net margin of 11.29% and a return on equity of 18.99%. The company posted revenue of $1.75 billion in the quarter, versus $1.77 billion expected by analysts. During the same period a year earlier, the company posted EPS of $0.72. The company’s revenue increased by 17.5% compared to the same quarter last year. On average, stock research analysts expect Electronic Arts Inc. to post earnings per share of 5.51 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 22. Shareholders of record on Wednesday, June 8 received a dividend of $0.19. The ex-dividend date was Tuesday, June 7. This represents an annualized dividend of $0.76 and a dividend yield of 0.62%. This is an increase from Electronic Arts’ previous quarterly dividend of $0.17. Electronic Arts’ dividend payout ratio is currently 27.54%.
Electronic Arts Company Profile (Get a rating)
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 in various genres, such as sports, racing, first-person shooter, action, role-playing and simulation, mainly under Battlefield, The Sims, Apex Legends, Need for Speed and other licensed games. , including FIFA, Madden NFL, UFC and Star Wars brands.
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