LPL Financial LLC Lowers Holdings in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• LPL Financial LLC reduced its holdings in Electronic Arts Inc. by 6.5% in the first quarter, owning 88,703 shares worth approximately $12.8 million after selling 6,185 shares.
• Multiple hedge funds have shown interest in Electronic Arts, with institutional investors now holding 90.23% of the company’s stock.
• Electronic Arts announced a quarterly dividend of $0.19 per share, representing an annualized yield of 0.5%, set to be paid on September 17th.

LPL Financial LLC lowered its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,703 shares of the game software company's stock after selling 6,185 shares during the quarter. LPL Financial LLC's holdings in Electronic Arts were worth $12,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Putney Financial Group LLC acquired a new position in shares of Electronic Arts in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the 1st quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Electronic Arts in the 4th quarter worth about $33,000. Wayfinding Financial LLC acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $39,000. Finally, American National Bank & Trust acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Wall Street Analyst Weigh In

EA has been the topic of several research reports. Argus set a $170.00 price target on shares of Electronic Arts in a report on Friday, May 16th. TD Cowen lifted their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Arete upgraded Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Bank of America lifted their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.35.

Insider Buying and Selling

In related news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the transaction, the chief financial officer owned 14,533 shares in the company, valued at $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the transaction, the insider owned 58,092 shares in the company, valued at approximately $9,032,725.08. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,729 shares of company stock valued at $4,677,124 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Stock Down 0.2%

EA opened at $162.75 on Friday. The business has a 50 day moving average of $152.68 and a 200-day moving average of $143.79. The company has a current ratio of 0.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 2.10 and a beta of 0.72. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Announces Dividend

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

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.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

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.