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Sovran Advisors LLC lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,686 shares of the game software company’s stock after selling 311 shares during the period. Sovran Advisors LLC’s holdings in Electronic Arts were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Taylor Hoffman Capital Management LLC increased its stake in shares of Electronic Arts by 4.4% during the second quarter. Taylor Hoffman Capital Management LLC now owns 29,095 shares of the game software company’s stock worth $4,646,000 after purchasing an additional 1,225 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Electronic Arts by 3.3% during the second quarter. Pallas Capital Advisors LLC now owns 4,444 shares of the game software company’s stock worth $710,000 after purchasing an additional 143 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. grew its stake in Electronic Arts by 191.1% during the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 27,591 shares of the game software company’s stock valued at $4,406,000 after acquiring an additional 18,113 shares in the last quarter. Czech National Bank grew its stake in Electronic Arts by 2.4% during the 2nd quarter. Czech National Bank now owns 55,779 shares of the game software company’s stock valued at $8,908,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Electronic Arts by 237.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 151,513 shares of the game software company’s stock valued at $24,197,000 after acquiring an additional 106,550 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Electronic Arts Stock Performance
Shares of EA stock opened at $173.09 on Friday. The firm’s 50 day moving average price is $165.08 and its 200-day moving average price is $153.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The firm has a market cap of $43.31 billion, a P/E ratio of 43.38, a P/E/G ratio of 2.63 and a beta of 0.75.
Electronic Arts Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is 19.05%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Arete Research set a $192.00 price objective on shares of Electronic Arts in a research note on Tuesday, August 5th. UBS Group set a $167.00 price objective on shares of Electronic Arts and gave the company a “neutral” rating in a research note on Friday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. Bank of America increased their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Arete raised shares of 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, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.40.
Check Out Our Latest Analysis on EA
Insider Activity at Electronic Arts
In other news, EVP Jacob J. Schatz sold 1,200 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the sale, the executive vice president directly owned 26,080 shares in the company, valued at approximately $4,473,241.60. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stuart Canfield sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total transaction of $171,060.00. Following the completion of the sale, the chief financial officer owned 15,140 shares in the company, valued at $2,589,848.40. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,800 shares of company stock worth $4,214,010 over the last 90 days. 0.24% of the stock is currently owned by corporate 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.
Further Reading
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