Cetera Investment Advisers lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 24.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,000 shares of the game software company’s stock after selling 5,967 shares during the quarter. Cetera Investment Advisers’ holdings in Electronic Arts were worth $2,508,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EA. North Star Investment Management Corp. increased its stake in Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Electronic Arts during the first quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the 2nd quarter valued at $28,000. Family Firm Inc. acquired a new stake in shares of Electronic Arts in the 2nd quarter worth $33,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Electronic Arts during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Jefferies Financial Group assumed coverage on Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 target price for the company. Oppenheimer upped their price target on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Benchmark reissued a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.94.
Insider Transactions at Electronic Arts
In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $142.42, for a total value of $356,050.00. Following the completion of the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at $8,437,957.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred 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 transaction, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,270 shares of company stock valued at $3,571,565. 0.22% of the stock is currently owned by corporate insiders.
Electronic Arts Stock Performance
Shares of Electronic Arts stock opened at $143.24 on Friday. The business has a 50-day simple moving average of $145.27 and a 200-day simple moving average of $138.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. Electronic Arts Inc. has a one year low of $119.92 and a one year high of $153.51. The company has a market cap of $38.06 billion, a PE ratio of 30.61, a P/E/G ratio of 1.95 and a beta of 0.79.
Electronic Arts (NASDAQ:EA – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, equities research analysts forecast that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.
Electronic Arts Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.
Electronic Arts 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.
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