Fulton Bank N.A. Decreases Stock Position in Electronic Arts Inc. $EA

Fulton Bank N.A. cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 64.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,973 shares of the game software company’s stock after selling 5,388 shares during the quarter. Fulton Bank N.A.’s holdings in Electronic Arts were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares during the last quarter. Empowered Funds LLC grew its position in shares of Electronic Arts by 167.0% during the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock worth $46,000 after acquiring an additional 190 shares during the period. Jump Financial LLC bought a new position in Electronic Arts in the second quarter worth about $2,323,000. Finally, NewEdge Advisors LLC raised its position in shares of Electronic Arts by 96.4% during the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after purchasing an additional 1,505 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer directly owned 25,991 shares in the company, valued at $5,233,547.76. This represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the transaction, the executive vice president directly owned 42,287 shares in the company, valued at $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $8,060,033 in the last three months. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

Electronic Arts stock opened at $205.21 on Friday. The firm has a market cap of $51.46 billion, a price-to-earnings ratio of 58.80, a P/E/G ratio of 2.31 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. Electronic Arts Inc. has a fifty-two week low of $146.97 and a fifty-two week high of $206.00. The firm has a fifty day moving average price of $202.45 and a two-hundred day moving average price of $202.48.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EA. Citigroup raised their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.64.

About Electronic Arts

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.