Foster Victor Wealth Advisors LLC Grows Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Electronic Arts Inc. by 4.6% during Q2, now owning 91,328 shares valued at approximately $13.94 million.
• Notably, several institutional investors have also expanded their positions in Electronic Arts, indicating strong institutional support with 90.23% of the stock held by such investors.
• Insider transactions reveal that executives Jacob J. Schatz and Laura Miele sold shares recently, contributing to a total of 30,800 shares sold by insiders in the last 90 days.

Foster Victor Wealth Advisors LLC grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,328 shares of the game software company's stock after acquiring an additional 3,999 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Electronic Arts were worth $13,944,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the first quarter valued at $28,000. Bank of Jackson Hole Trust boosted its stake in Electronic Arts by 56.4% in the 1st 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 period. Wayfinding Financial LLC purchased a new position in Electronic Arts during the 1st quarter valued at about $39,000. American National Bank & Trust bought a new stake in shares of Electronic Arts during the first quarter valued at about $40,000. Finally, Costello Asset Management INC purchased a new stake in shares of Electronic Arts in the first quarter worth about $40,000. 90.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the transaction, the insider owned 58,092 shares of the company's stock, valued at $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,800 shares of company stock worth $5,077,960. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Trading Up 0.4%

Electronic Arts stock opened at $174.07 on Wednesday. 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 $43.55 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 2.63 and a beta of 0.75. The firm has a 50 day moving average of $166.08 and a 200 day moving average of $153.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's payout ratio is 19.05%.

Analysts Set New Price Targets

EA has been the topic of several recent analyst reports. Citigroup reiterated a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating and issued a $210.00 target price on shares of Electronic Arts in a research note on Monday, August 25th. DA Davidson lifted their price target on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Wall Street Zen lowered shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Bank of America lifted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.40.

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.

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