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Midwest Professional Planners LTD. Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

Electronic Arts logo with Consumer Discretionary background

Midwest Professional Planners LTD. reduced its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,239 shares of the game software company's stock after selling 1,724 shares during the quarter. Midwest Professional Planners LTD.'s holdings in Electronic Arts were worth $902,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in EA. Putney Financial Group LLC acquired a new stake in Electronic Arts during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts in the 1st quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new position in Electronic Arts in the 4th quarter worth approximately $33,000. Millstone Evans Group LLC bought a new position in Electronic Arts in the 4th quarter worth approximately $37,000. Finally, Wayfinding Financial LLC bought a new position in Electronic Arts in the 1st quarter worth approximately $39,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EA shares. Oppenheimer raised their target price 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. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. 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. UBS Group increased their price target on shares of Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, TD Cowen increased their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.71.

Get Our Latest Research Report on Electronic Arts

Electronic Arts Stock Up 0.3%

Electronic Arts stock traded up $0.48 during midday trading on Thursday, hitting $149.83. 1,828,403 shares of the stock were exchanged, compared to its average volume of 2,811,833. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The stock has a market capitalization of $37.65 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.02 and a beta of 0.73. The business's 50-day moving average price is $150.78 and its 200-day moving average price is $142.55. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's payout ratio is 17.92%.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total transaction of $398,750.00. Following the sale, the insider owned 60,592 shares of the company's stock, valued at approximately $9,664,424. This represents a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total transaction of $159,530.00. Following the completion of the transaction, the insider directly owned 37,131 shares in the company, valued at $5,923,508.43. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock valued at $4,788,684 in the last three months. Insiders own 0.24% of the company's stock.

Electronic Arts Profile

(Free Report)

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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