Avantax Advisory Services Inc. Decreases Holdings in Electronic Arts Inc. (NASDAQ:EA)

Avantax Advisory Services Inc. cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 65.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,170 shares of the game software company’s stock after selling 6,022 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Electronic Arts were worth $458,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. increased its position in shares of Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company’s stock valued at $81,000 after purchasing an additional 73 shares during the last quarter. Whipplewood Advisors LLC increased its position in shares of Electronic Arts by 34.2% during the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company’s stock valued at $43,000 after purchasing an additional 76 shares during the last quarter. Clarius Group LLC increased its position in shares of Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company’s stock valued at $319,000 after purchasing an additional 77 shares during the last quarter. Conning Inc. increased its position in shares of Electronic Arts by 4.7% during the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company’s stock valued at $253,000 after purchasing an additional 78 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Electronic Arts by 7.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 1,121 shares of the game software company’s stock valued at $162,000 after acquiring an additional 81 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $163.00 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.84. The company has a market cap of $40.78 billion, a PE ratio of 40.85, a P/E/G ratio of 2.08 and a beta of 0.72. The business has a 50-day simple moving average of $152.28 and a two-hundred day simple moving average of $143.64. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EA. The Goldman Sachs Group upped their price target on Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price target for the company in a research note on Tuesday. Wall Street Zen downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the stock an “equal weight” rating in a report on Monday, July 28th. Finally, Roth Capital raised Electronic Arts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.35.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 6,563 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total value of $992,194.34. Following the completion of the transaction, the chief executive officer directly owned 70,059 shares in the company, valued at $10,591,519.62. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 owned 58,092 shares of the company’s stock, valued at approximately $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,729 shares of company stock valued at $4,677,124. 0.24% of the stock is owned by company 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.