Miracle Mile Advisors LLC Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

Miracle Mile Advisors LLC lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,342 shares of the game software company's stock after selling 2,681 shares during the quarter. Miracle Mile Advisors LLC's holdings in Electronic Arts were worth $772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank raised its holdings in Electronic Arts by 31.4% in the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock worth $49,577,000 after purchasing an additional 80,968 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Electronic Arts by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company's stock valued at $213,089,000 after buying an additional 36,153 shares during the period. Fisher Funds Management LTD purchased a new position in shares of Electronic Arts during the 4th quarter worth approximately $3,730,000. Nomura Holdings Inc. increased its stake in Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock worth $4,566,000 after purchasing an additional 3,259 shares during the period. Finally, Portfolio Design Labs LLC boosted its holdings in Electronic Arts by 18.8% in the fourth quarter. Portfolio Design Labs LLC now owns 25,065 shares of the game software company's stock valued at $3,667,000 after purchasing an additional 3,968 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EA has been the topic of a number of research reports. DA Davidson began coverage on shares of Electronic Arts in a research note on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 price objective on the stock. Benchmark lifted their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Ascendiant Capital Markets boosted their price target on Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. UBS Group boosted their price target on Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $161.88.

Electronic Arts Stock Up 1.2%

Shares of NASDAQ:EA traded up $1.80 during midday trading on Thursday, reaching $149.48. The company had a trading volume of 836,779 shares, compared to its average volume of 2,750,123. The stock has a market cap of $37.48 billion, a PE ratio of 38.04, a P/E/G ratio of 3.58 and a beta of 0.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The business's 50 day moving average price is $146.25 and its 200 day moving average price is $143.50.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts's dividend payout ratio is 17.92%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the transaction, the chief executive officer now owns 32,615 shares in the company, valued at $4,647,637.50. This represents a 13.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 27,729 shares of company stock valued at $4,107,664 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

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.