Berger Financial Group Inc Sells 35,085 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Berger Financial Group Inc significantly reduced its stake in Electronic Arts Inc. by 95.8%, selling 35,085 shares, leaving it with only 1,534 shares valued at $222,000.
• The stock price of Electronic Arts increased by 3.0%, currently trading at $167.64, with a 12-month low of $115.21 and a high of $168.50.
• Electronic Arts has declared a quarterly dividend of $0.19, with a dividend yield of 0.5% and a payout ratio of 19.05%.

Berger Financial Group Inc trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 95.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,534 shares of the game software company's stock after selling 35,085 shares during the quarter. Berger Financial Group Inc's holdings in Electronic Arts were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts in the first quarter worth about $28,000. Bank of Jackson Hole Trust lifted its stake in shares of Electronic Arts by 56.4% in the first 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 in the last quarter. LGT Financial Advisors LLC acquired a new stake in Electronic Arts during the fourth quarter valued at approximately $33,000. Finally, Wayfinding Financial LLC acquired a new stake in Electronic Arts during the first quarter valued at approximately $39,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

EA traded down $4.80 on Friday, reaching $174.21. The company had a trading volume of 1,055,236 shares, compared to its average volume of 3,512,546. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The stock has a market cap of $43.59 billion, a P/E ratio of 43.72, a P/E/G ratio of 2.30 and a beta of 0.72. The company's fifty day moving average is $155.63 and its 200 day moving average is $145.44. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

Insider Buying and Selling at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $152.21, for a total value of $761,050.00. Following the completion of the transaction, the chief executive officer owned 57,393 shares of the company's stock, valued at $8,735,788.53. This represents a 8.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were 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 $5,923,508.43. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,229 shares of company stock worth $4,452,664 in the last three months. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EA shares. Citigroup reaffirmed a "neutral" rating and set a $153.00 price target (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. HSBC upgraded Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. DA Davidson increased their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday. Bank of America lifted their target price on Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Moffett Nathanson restated a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, May 7th. Sixteen 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 stock. According to MarketBeat, Electronic Arts has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Electronic Arts 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.