First Horizon Corp Has $1.45 Million Stake in Electronic Arts Inc. $EA

Key Points

• First Horizon Corp cut its stake in Electronic Arts by 45.9% in the first quarter, selling 6,018 shares and leaving it with 7,100 shares valued at about $1.45 million.
• Institutional ownership remains high, with 90.23% of EA shares held by institutions and hedge funds, and several smaller firms recently initiating new positions in the stock.
• Analysts are mostly cautious on EA: the consensus rating is Hold with an average price target of $196.64, while the stock recently traded around $206.41 near its 52-week high.

First Horizon Corp reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 45.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,100 shares of the game software company's stock after selling 6,018 shares during the quarter. First Horizon Corp's holdings in Electronic Arts were worth $1,447,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EA. Ascentis Independent Advisors acquired a new stake in Electronic Arts during the 1st quarter valued at $27,000. MV Capital Management Inc. bought a new position in Electronic Arts during the fourth quarter worth $28,000. Asset Planning Inc acquired a new position in shares of Electronic Arts in the first quarter valued at $32,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Electronic Arts in the fourth quarter valued at $44,000. Finally, Salomon & Ludwin LLC raised its position in shares of Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock valued at $47,000 after purchasing an additional 57 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EA. Argus cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Wall Street Zen upgraded Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Finally, Citigroup lifted their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Electronic Arts currently has an average rating of "Hold" and a consensus target price of $196.64.

Electronic Arts Trading Down 0.1%

EA stock opened at $206.41 on Friday. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $206.63. The company has a market capitalization of $51.76 billion, a PE ratio of 59.14, a price-to-earnings-growth ratio of 2.32 and a beta of 0.64. The company's 50-day simple moving average is $202.76 and its 200 day simple moving average is $202.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts's dividend payout ratio is presently 21.78%.

Insider Buying and Selling at Electronic Arts

In related news, CEO Andrew Wilson sold 5,066 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the completion of the sale, the chief executive officer directly owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $203.21, for a total value of $508,025.00. Following the sale, the insider directly owned 43,343 shares in the company, valued at $8,807,731.03. This represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 39,906 shares of company stock worth $8,060,033. 0.24% of the stock is currently owned by company insiders.

About Electronic Arts

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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