Galvin Gaustad & Stein LLC Sells 1,763 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Galvin Gaustad & Stein LLC has reduced its holdings in Electronic Arts Inc. (NASDAQ:EA) by 44.2%, now owning 2,230 shares valued at $322,000.
• A significant number of hedge funds have increased their stakes in Electronic Arts, with some firms like GAMMA Investing LLC increasing their holdings by over 11,000% during the first quarter.
• Shares of Electronic Arts opened at $151.99 and the company recently paid a quarterly dividend yield of 0.50%, amounting to $0.76 annualized.

Galvin Gaustad & Stein LLC reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 44.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,230 shares of the game software company's stock after selling 1,763 shares during the period. Galvin Gaustad & Stein LLC's holdings in Electronic Arts were worth $322,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in Electronic Arts during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the first quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter worth about $33,000. Wayfinding Financial LLC purchased a new position in shares of Electronic Arts in the first quarter worth about $39,000. Finally, American National Bank & Trust purchased a new position in shares of Electronic Arts in the first quarter worth about $40,000. 90.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Moffett Nathanson reiterated a "neutral" rating and issued a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday. Finally, Wedbush reiterated an "outperform" rating and issued a $210.00 target price on shares of Electronic Arts in a research note on Tuesday, July 22nd. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts has an average rating of "Hold" and an average price target of $164.21.

Electronic Arts Trading Up 2.4%

Shares of EA traded up $3.60 during mid-day trading on Friday, reaching $156.09. The company's stock had a trading volume of 1,795,784 shares, compared to its average volume of 3,502,023. The stock has a market cap of $39.22 billion, a PE ratio of 39.10, a P/E/G ratio of 2.12 and a beta of 0.73. The company has a current ratio of 0.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The company's fifty day moving average price is $151.22 and its two-hundred day moving average price is $143.14.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's payout ratio is presently 19.05%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares of the company's stock, valued at $5,923,508.43. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president directly owned 28,448 shares of the company's stock, valued at $4,219,407.36. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,729 shares of company stock worth $4,677,324. Corporate insiders own 0.24% of the company's stock.

About Electronic Arts

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.