Vontobel Holding Ltd. cut its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 62.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,671 shares of the game software company's stock after selling 41,035 shares during the period. Vontobel Holding Ltd.'s holdings in Electronic Arts were worth $3,565,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Putney Financial Group LLC bought a new stake in Electronic Arts in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter valued at $28,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts in the fourth quarter valued at $33,000. Millstone Evans Group LLC bought a new stake in Electronic Arts in the fourth quarter valued at $37,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the first quarter valued at $40,000. 90.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on EA. JPMorgan Chase & Co. upped their price target on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. TD Cowen boosted their price objective on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wedbush raised Electronic Arts to a "strong-buy" rating in a research note on Tuesday, July 1st. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Finally, Benchmark boosted their price objective on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $162.80.
View Our Latest Analysis on EA
Insider Transactions at Electronic Arts
In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was 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 of the company's stock, valued at $4,452,968.12. The trade was a 4.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,729 shares of company stock worth $4,784,679. Corporate insiders own 0.24% of the company's stock.
Electronic Arts Trading Down 1.2%
Shares of Electronic Arts stock traded down $1.84 during trading hours on Monday, hitting $153.53. The company's stock had a trading volume of 2,502,773 shares, compared to its average volume of 2,819,980. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $38.58 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The stock has a 50 day moving average of $150.78 and a 200 day moving average of $142.38.
Electronic Arts Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid 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 payout ratio is 17.92%.
Electronic Arts Company 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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