First Horizon Advisors Inc. Purchases 17,496 Shares of Electronic Arts Inc. (NASDAQ:EA)

First Horizon Advisors Inc. grew its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,891 shares of the game software company's stock after purchasing an additional 17,496 shares during the quarter. First Horizon Advisors Inc.'s holdings in Electronic Arts were worth $16,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Putney Financial Group LLC purchased a new position in shares of Electronic Arts in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts in the 1st quarter worth $28,000. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth $33,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth $37,000. Finally, American National Bank & Trust purchased a new position in shares of Electronic Arts in the 1st quarter worth $40,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Down 1.1%

Shares of EA stock traded down $1.68 on Thursday, hitting $155.35. 1,321,185 shares of the stock were exchanged, compared to its average volume of 2,814,748. The business has a 50-day moving average of $150.29 and a 200 day moving average of $142.44. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $39.03 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 2.13 and a beta of 0.73.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.49%. Electronic Arts's payout ratio is currently 17.92%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EA shares. The Goldman Sachs Group boosted their price objective on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. Moffett Nathanson reiterated a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, May 7th. Oppenheimer upped their target price on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research report 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. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

Insider Buying and Selling at Electronic Arts

In related news, CFO Stuart Canfield sold 1,000 shares of the company'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 transaction of $151,320.00. Following the transaction, the chief financial officer directly owned 14,533 shares of the company's stock, valued at approximately $2,199,133.56. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the company'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 value of $223,035.00. Following the transaction, the executive vice president directly owned 29,948 shares in the company, valued at approximately $4,452,968.12. This trade represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,729 shares of company stock worth $4,784,679 in the last 90 days. Company insiders own 0.22% of the company's stock.

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.