Truist Financial Corp Sells 452 Shares of Electronic Arts Inc. $EA

Truist Financial Corp cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,404 shares of the game software company’s stock after selling 452 shares during the period. Truist Financial Corp’s holdings in Electronic Arts were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EA. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter worth about $28,000. Bank of Jackson Hole Trust grew its holdings in shares of Electronic Arts by 56.4% during the first 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. Wayfinding Financial LLC purchased a new position in shares of Electronic Arts during the first quarter worth about $39,000. Costello Asset Management INC purchased a new position in shares of Electronic Arts during the first quarter worth about $40,000. Finally, ORG Partners LLC grew its holdings in shares of Electronic Arts by 47.6% during the second quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on EA shares. Roth Capital lowered Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $185.00 to $210.00 in a report on Thursday, October 2nd. DZ Bank lowered Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Bank of America upped their target price on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. HSBC lowered Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a research note on Monday, September 29th. Finally, Jefferies Financial Group lowered Electronic Arts from a “buy” rating to a “hold” rating and upped their target price for the stock from $200.00 to $210.00 in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.00.

Electronic Arts Trading Down 0.0%

Shares of NASDAQ:EA opened at $200.01 on Friday. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 50.13, a PEG ratio of 3.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day simple moving average is $177.15 and its two-hundred day simple moving average is $158.51. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $203.75.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total value of $222,480.00. Following the transaction, the executive vice president owned 28,448 shares of the company’s stock, valued at $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $7,247,635 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Company 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.