Evergreen Capital Management LLC Sells 19,766 Shares of Electronic Arts Inc. $EA

Key Points

• Evergreen Capital Management LLC significantly reduced its stake in Electronic Arts Inc. (EA) by 86.0%, now holding just 3,211 shares valued at approximately $464,000 following the sale of 19,766 shares in the 1st quarter.
• Several other institutional investors have also adjusted their positions, with hedge funds collectively owning 90.23% of Electronic Arts's stock.
• Electronic Arts has announced a quarterly dividend of $0.19 per share, with an annualized yield of 0.4%, set to be paid to shareholders on September 17th.

Evergreen Capital Management LLC reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 86.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,211 shares of the game software company's stock after selling 19,766 shares during the quarter. Evergreen Capital Management LLC's holdings in Electronic Arts were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the first quarter worth approximately $28,000. Bank of Jackson Hole Trust raised 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 purchasing an additional 75 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Electronic Arts in the first quarter worth approximately $39,000. Finally, American National Bank & Trust purchased a new stake in shares of Electronic Arts in the first quarter worth approximately $40,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EA has been the subject of several analyst reports. Argus set a $170.00 price objective on Electronic Arts in a research note on Friday, May 16th. UBS Group set a $167.00 price objective on Electronic Arts and gave the stock a "neutral" rating in a research note on Friday, August 1st. Wells Fargo & Company set a $168.00 target price on Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Citigroup reaffirmed 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. Finally, Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and upped their target price for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total value of $206,712.00. Following the sale, the insider owned 35,931 shares in the company, valued at $6,189,474.06. This represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the sale, the chief financial officer owned 15,140 shares in the company, valued at $2,589,848.40. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,900 shares of company stock worth $4,778,597. Insiders own 0.24% of the company's stock.

Electronic Arts Trading Up 0.4%

NASDAQ:EA traded up $0.59 during mid-day trading on Friday, reaching $168.62. 2,205,511 shares of the company's stock traded hands, compared to its average volume of 2,839,614. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. The firm has a market capitalization of $42.19 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 2.17 and a beta of 0.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50 day moving average price of $161.78 and a 200-day moving average price of $150.36.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's payout ratio is presently 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.