Allspring Global Investments Holdings LLC Has $1.73 Million Position in Electronic Arts Inc. $EA

Key Points

• Allspring Global Investments Holdings LLC significantly reduced its holdings in Electronic Arts by 94.6% during Q2, leaving it with an investment worth approximately $1.73 million.
• Multiple hedge funds have increased their positions in Electronic Arts, with institutional investors owning 90.23% of the stock.
• Electronic Arts announced a quarterly dividend of $0.19 per share, representing an annualized yield of 0.4%.

Allspring Global Investments Holdings LLC lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 94.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,897 shares of the game software company's stock after selling 191,025 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Electronic Arts were worth $1,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EA. Bank of Jackson Hole Trust boosted its position in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Electronic Arts by 47.6% in the second quarter. ORG Partners LLC now owns 251 shares of the game software company's stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Electronic Arts in the first quarter worth $39,000. Costello Asset Management INC bought a new stake in shares of Electronic Arts in the first quarter worth $40,000. Finally, WPG Advisers LLC bought a new stake in shares of Electronic Arts in the first quarter worth $41,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EA. Robert W. Baird reissued a "neutral" rating and issued a $210.00 price objective (up previously from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Citigroup reissued a "neutral" rating on shares of Electronic Arts in a research report on Friday, September 26th. Arete Research set a $192.00 price objective on shares of Electronic Arts in a research report on Tuesday, August 5th. Morgan Stanley raised their price target on Electronic Arts from $148.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $179.38.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the sale, the chief executive officer directly owned 52,393 shares in the company, valued at $8,961,822.65. The trade was a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,200 shares of the business'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 completion of the sale, the executive vice president owned 26,080 shares of the company's stock, valued at $4,473,241.60. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,900 shares of company stock worth $7,748,187 in the last three months. 0.24% of the stock is owned by company insiders.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $200.55 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75. The stock has a 50 day moving average of $181.84 and a 200-day moving average of $161.37. The company has a market capitalization of $50.18 billion, a P/E ratio of 50.26, a P/E/G ratio of 3.04 and a beta of 0.77.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

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.

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