Econ Financial Services Corp Acquires 4,849 Shares of Electronic Arts Inc. $EA

Econ Financial Services Corp raised its holdings in Electronic Arts Inc. (NASDAQ:EA) by 42.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,265 shares of the game software company’s stock after buying an additional 4,849 shares during the period. Electronic Arts accounts for about 1.6% of Econ Financial Services Corp’s portfolio, making the stock its 18th largest holding. Econ Financial Services Corp’s holdings in Electronic Arts were worth $3,281,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its holdings in Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Electronic Arts during the 2nd quarter worth approximately $30,000. Frazier Financial Advisors LLC raised its stake in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after purchasing an additional 148 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of Electronic Arts by 67.5% during the 2nd quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after purchasing an additional 79 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the 2nd quarter valued at approximately $37,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on EA. Robert W. Baird reaffirmed a “neutral” rating and set a $210.00 price target (up from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. BMO Capital Markets raised their target price on shares of Electronic Arts from $166.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, September 30th. Cowen downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, Oppenheimer lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 30th. Four investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus target price of $181.21.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $204.11, for a total transaction of $244,932.00. Following the transaction, the insider directly owned 33,560 shares of the company’s stock, valued at approximately $6,849,931.60. This trade represents a 3.45% 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. Also, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $201.65, for a total transaction of $302,475.00. Following the completion of the sale, the chief financial officer directly owned 5,595 shares of the company’s stock, valued at $1,128,231.75. This represents a 21.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 122,469 shares of company stock valued at $24,650,681. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Down 0.0%

Shares of EA opened at $204.33 on Friday. The firm has a market cap of $51.10 billion, a P/E ratio of 59.75, a price-to-earnings-growth ratio of 2.41 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $204.89. The firm’s 50-day simple moving average is $202.42 and its 200 day simple moving average is $181.59.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue was down 12.6% on a year-over-year basis. On average, analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is presently 22.22%.

Electronic Arts Company 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.