DoubleLine ETF Adviser LP Sells 4,743 Shares of Electronic Arts Inc. $EA

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in Electronic Arts Inc. by 17.9%, selling 4,743 shares and currently holding 21,734 shares valued at $3,141,000.
• A variety of institutional investors have recently bought and sold shares of Electronic Arts, with Ameriprise Financial Inc. increasing its holdings by 197.5% during the same quarter.
• Electronic Arts declared a quarterly dividend of $0.19 per share, with an annual yield of 0.5%, expected to be paid on September 17th, 2023.

DoubleLine ETF Adviser LP reduced its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 17.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,734 shares of the game software company's stock after selling 4,743 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Electronic Arts were worth $3,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Management Professionals Inc. raised its holdings in shares of Electronic Arts by 15.0% in the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares in the last quarter. Bank of Jackson Hole Trust raised its holdings in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Electronic Arts by 34.2% in the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Clarius Group LLC raised its holdings in shares of Electronic Arts by 3.6% in the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after purchasing an additional 77 shares in the last quarter. Finally, Conning Inc. raised its holdings in shares of Electronic Arts by 4.7% in the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after purchasing an additional 78 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Down 0.6%

Shares of EA traded down $1.03 during mid-day trading on Tuesday, hitting $167.04. 831,060 shares of the company's stock were exchanged, compared to its average volume of 3,410,315. The firm has a fifty day moving average of $161.95 and a two-hundred day moving average of $150.91. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 41.87, a P/E/G ratio of 2.18 and a beta of 0.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid 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 0.5%. Electronic Arts's dividend payout ratio is 19.05%.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Citigroup reiterated a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target on the stock in a report on Tuesday, August 5th. Wedbush restated an "outperform" rating and set a $210.00 price target on shares of Electronic Arts in a report on Monday, August 25th. Finally, DA Davidson boosted their price target on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Buying and Selling at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the transaction, the executive vice president owned 29,948 shares in the company, valued at $4,452,968.12. This represents a 4.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total transaction of $206,712.00. Following the sale, the insider directly owned 35,931 shares of the company's stock, valued at approximately $6,189,474.06. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,900 shares of company stock worth $4,778,597. Company insiders own 0.24% of the company's stock.

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.