Financiere des Professionnels Fonds d investissement inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 69.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,478 shares of the game software company's stock after selling 21,985 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Electronic Arts were worth $1,370,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in Electronic Arts during the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the first quarter worth $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter worth $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts during the fourth quarter worth $37,000. Finally, Wayfinding Financial LLC purchased a new stake in Electronic Arts during the first quarter worth $39,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Electronic Arts
In other news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $150.64, for a total value of $753,200.00. Following the completion of the sale, the chief executive officer owned 62,393 shares of the company's stock, valued at $9,398,881.52. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, 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 sold a total of 31,729 shares of company stock valued at $4,784,679 over the last three months. Insiders own 0.24% of the company's stock.
Electronic Arts Trading Down 0.9%
Electronic Arts stock traded down $1.38 during trading on Thursday, hitting $151.30. The company's stock had a trading volume of 1,613,048 shares, compared to its average volume of 2,815,448. The stock has a market capitalization of $38.02 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 2.07 and a beta of 0.73. The stock's fifty day moving average is $151.06 and its 200 day moving average is $142.52. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.
Electronic Arts Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.50%. Electronic Arts's dividend payout ratio is presently 17.92%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on EA. Moffett Nathanson reiterated a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, May 7th. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a report on Wednesday, May 7th. Finally, Oppenheimer boosted their price target on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts has a consensus rating of "Moderate Buy" and a consensus price target of $162.80.
Check Out Our Latest Stock Report on Electronic Arts
About Electronic Arts
(
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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