Cibc World Market Inc. Sells 21,760 Shares of Electronic Arts Inc. $EA

Cibc World Market Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 15.9% in the 4th quarter, HoldingsChannel reports. The firm owned 114,981 shares of the game software company’s stock after selling 21,760 shares during the quarter. Cibc World Market Inc.’s holdings in Electronic Arts were worth $23,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its stake in Electronic Arts by 100.0% in the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new stake in Electronic Arts in the fourth quarter valued at $44,000. Salomon & Ludwin LLC increased its stake in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Asset Dedication LLC increased its stake in Electronic Arts by 333.3% in the third quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock valued at $52,000 after purchasing an additional 200 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its stake in Electronic Arts by 32.7% in the third quarter. Washington Trust Advisors Inc. now owns 284 shares of the game software company’s stock valued at $57,000 after purchasing an additional 70 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were 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 owned 25,991 shares in the company, valued at approximately $5,233,547.76. The trade was a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 39,906 shares of company stock valued at $8,032,336 in the last three months. Insiders own 0.24% of the company’s stock.

Electronic Arts Stock Down 0.2%

EA opened at $203.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $50.90 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 2.24 and a beta of 0.65. Electronic Arts Inc. has a twelve month low of $145.54 and a twelve month high of $204.88. The company’s 50-day moving average price is $202.21 and its two-hundred day moving average price is $202.29.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s payout ratio is presently 21.78%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Citigroup lifted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $196.64.

Electronic Arts Profile

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.