HighTower Advisors LLC Sells 1,670 Shares of Electronic Arts Inc. $EA

Key Points

• HighTower Advisors LLC reduced its stake in Electronic Arts by 5.4%, selling 1,670 shares, which left them with 29,377 shares valued at approximately $4.25 million.
• Insider trading reports indicate that CEO Andrew Wilson sold 5,000 shares worth about $753,200, while EVP Jacob J. Schatz sold 1,500 shares valued at approximately $223,035.
• Electronic Arts announced a quarterly dividend of $0.19 per share with a yield of 0.4%, payable on September 17th to shareholders recorded by August 27th.

HighTower Advisors LLC lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,377 shares of the game software company's stock after selling 1,670 shares during the period. HighTower Advisors LLC's holdings in Electronic Arts were worth $4,246,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in Electronic Arts in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts in the first quarter valued at about $28,000. Bank of Jackson Hole Trust boosted its holdings in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. LGT Financial Advisors LLC bought a new position in Electronic Arts in the fourth quarter valued at about $33,000. Finally, Wayfinding Financial LLC bought a new position in Electronic Arts in the first quarter valued at about $39,000. Institutional investors own 90.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EA shares. Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. UBS Group set a $167.00 price target on Electronic Arts and gave the company a "neutral" rating in a report on Friday, August 1st. Arete Research set a $192.00 price target on Electronic Arts in a research report on Tuesday, August 5th. TD Cowen raised their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $150.64, for a total transaction of $753,200.00. Following the transaction, the chief executive officer owned 62,393 shares of the company's stock, valued at $9,398,881.52. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the business'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 $4,452,968.12. This trade represents a 4.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,200 shares of company stock worth $3,116,350 over the last 90 days. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Up 0.4%

Shares of Electronic Arts stock opened at $171.33 on Thursday. The business's 50 day simple moving average is $157.52 and its 200 day simple moving average is $146.90. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $42.87 billion, a PE ratio of 42.94, a P/E/G ratio of 2.20 and a beta of 0.72.

Electronic Arts Announces Dividend

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 paid 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 is Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.