PNC Financial Services Group Inc. Purchases 8,542 Shares of Electronic Arts Inc. (NASDAQ:EA)

PNC Financial Services Group Inc. lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 20.4% during the third quarter, Holdings Channel reports. The institutional investor owned 50,354 shares of the game software company’s stock after purchasing an additional 8,542 shares during the period. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $7,223,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Electronic Arts in the third quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Electronic Arts during the second quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts in the third quarter worth $36,000. Finally, Gradient Investments LLC boosted its position in shares of Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares in the company, valued at approximately $8,448,493.36. This represents a 4.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,384 shares of company stock valued at $4,776,635 in the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the topic of several research analyst reports. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. UBS Group increased their price target on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Roth Mkm lifted their price objective on Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their target price on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen boosted their price target on shares of Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Stock Performance

EA stock opened at $166.67 on Friday. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $168.50. The firm has a market cap of $43.71 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 2.19 and a beta of 0.78. The business’s fifty day simple moving average is $149.36 and its two-hundred day simple moving average is $143.84. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. Electronic Arts’s payout ratio is 19.54%.

About Electronic Arts

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.