44 Wealth Management LLC grew its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 25.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,986 shares of the game software company's stock after acquiring an additional 1,799 shares during the quarter. 44 Wealth Management LLC's holdings in Electronic Arts were worth $1,299,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Electronic Arts during the fourth quarter worth approximately $33,000. Millstone Evans Group LLC purchased a new stake in shares of Electronic Arts during the fourth quarter worth approximately $37,000. Finally, American National Bank & Trust purchased a new stake in shares of Electronic Arts during the first quarter worth approximately $40,000. 90.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. HSBC upgraded Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research report on Wednesday, May 7th. Wedbush upgraded Electronic Arts to a "strong-buy" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group increased their price objective on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Argus set a $170.00 price objective on Electronic Arts in a research report on Friday, May 16th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.80.
Read Our Latest Research Report on Electronic Arts
Electronic Arts Price Performance
Electronic Arts stock traded down $1.84 during midday trading on Monday, reaching $153.53. 2,502,773 shares of the company were exchanged, compared to its average volume of 2,819,979. The company has a market capitalization of $38.58 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 2.11 and a beta of 0.73. The firm's 50-day simple moving average is $150.64 and its 200-day simple moving average is $142.34. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.
Electronic Arts Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is 17.92%.
Insider Buying and Selling
In related news, insider Vijayanthimala Singh sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total transaction of $159,530.00. Following the transaction, the insider directly owned 37,131 shares of the company's stock, valued at approximately $5,923,508.43. The trade was a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the transaction, the chief financial officer directly owned 14,533 shares in the company, valued at $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock worth $4,784,679 over the last ninety days. Insiders own 0.24% of the company's stock.
Electronic Arts Profile
(
Free Report)
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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