Janney Montgomery Scott LLC Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Janney Montgomery Scott LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 46.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,248 shares of the game software company's stock after selling 8,135 shares during the period. Janney Montgomery Scott LLC's holdings in Electronic Arts were worth $1,337,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Putney Financial Group LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 1st quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at about $33,000. Finally, Millstone Evans Group LLC purchased a new position in Electronic Arts in the 4th quarter worth approximately $37,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total value of $218,475.00. Following the sale, the executive vice president now directly owns 19,033 shares of the company's stock, valued at approximately $2,772,156.45. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the completion of the sale, the insider now directly owns 26,216 shares in the company, valued at approximately $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,229 shares of company stock worth $4,371,399 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Ascendiant Capital Markets lifted their price target on Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Oppenheimer lifted their price target on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Argus set a $170.00 price target on Electronic Arts in a research note on Friday, May 16th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Electronic Arts currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.80.

Electronic Arts Trading Up 0.0%

Shares of EA traded up $0.01 during mid-day trading on Friday, hitting $157.74. 2,316,534 shares of the company's stock traded hands, compared to its average volume of 2,798,606. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The firm has a market capitalization of $39.64 billion, a P/E ratio of 37.20, a PEG ratio of 2.14 and a beta of 0.71. The business's 50-day moving average price is $149.40 and its 200-day moving average price is $142.35.

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 given 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 dividend yield of 0.48%. Electronic Arts's dividend payout ratio is presently 17.92%.

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.