Bank of Nova Scotia Lowers Holdings in Electronic Arts Inc. (NASDAQ:EA)

Bank of Nova Scotia cut its position in Electronic Arts Inc. (NASDAQ:EAGet Rating) by 89.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,255 shares of the game software company’s stock after selling 298,956 shares during the quarter. Bank of Nova Scotia’s holdings in Electronic Arts were worth $4,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Electronic Arts by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,802,596 shares of the game software company’s stock worth $2,758,246,000 after purchasing an additional 149,746 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Electronic Arts by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,792,775 shares of the game software company’s stock valued at $1,491,902,000 after buying an additional 1,859,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Electronic Arts by 3.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,078,541 shares of the game software company’s stock valued at $1,401,546,000 after buying an additional 409,382 shares in the last quarter. Capital International Investors raised its position in shares of Electronic Arts by 2.3% during the 1st quarter. Capital International Investors now owns 5,335,855 shares of the game software company’s stock valued at $675,103,000 after buying an additional 122,171 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Electronic Arts by 2.6% during the 1st quarter. Ninety One UK Ltd now owns 4,313,726 shares of the game software company’s stock valued at $545,729,000 after buying an additional 107,266 shares in the last quarter. 90.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EA. Credit Suisse Group lowered their price objective on shares of Electronic Arts from $144.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 11th. Wells Fargo & Company raised their price objective on shares of Electronic Arts from $145.00 to $155.00 and gave the company a “maintains” rating in a research report on Thursday, August 4th. MKM Partners cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and set a $131.00 price objective on the stock. in a research report on Wednesday, September 7th. Finally, Atlantic Securities lowered shares of Electronic Arts from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $130.00 in a report on Thursday, September 15th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $148.76.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 7,373 shares of Electronic Arts stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $130.05, for a total transaction of $958,858.65. Following the sale, the chief executive officer now owns 29,242 shares of the company’s stock, valued at approximately $3,802,922.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Wilson sold 7,373 shares of Electronic Arts stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $130.05, for a total transaction of $958,858.65. Following the sale, the chief executive officer now owns 29,242 shares of the company’s stock, valued at approximately $3,802,922.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Eric Charles Kelly sold 1,000 shares of Electronic Arts stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $129.56, for a total transaction of $129,560.00. Following the sale, the chief accounting officer now directly owns 5,730 shares in the company, valued at approximately $742,378.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,849 shares of company stock valued at $4,287,384 in the last quarter. Insiders own 0.37% of the company’s stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $128.78 on Wednesday. The firm has a market cap of $35.55 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 2.08 and a beta of 0.85. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $143.36. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $123.98 and its two-hundred day simple moving average is $127.09.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, November 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, November 29th. Electronic Arts’s dividend payout ratio (DPR) is presently 23.68%.

About Electronic Arts

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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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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