NorthCrest Asset Manangement LLC Decreases Stock Holdings in Electronic Arts Inc. $EA

Key Points

• NorthCrest Asset Management LLC sold 32,545 shares of Electronic Arts Inc., reducing its holdings by 91.1% in the second quarter, leaving them with 3,196 shares valued at approximately $497,000.
• Multiple hedge funds significantly increased their stakes in Electronic Arts, with Ameriprise Financial raising its position by 197.5% during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Electronic Arts, with a target price averaging $167.40, indicating positive growth expectations for the stock.

NorthCrest Asset Manangement LLC decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 91.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,196 shares of the game software company's stock after selling 32,545 shares during the period. NorthCrest Asset Manangement LLC's holdings in Electronic Arts were worth $497,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in Electronic Arts in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter valued at $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 in the last quarter. Wayfinding Financial LLC bought a new stake in Electronic Arts in the first quarter valued at $39,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the first quarter valued at $40,000. Institutional investors own 90.23% of the company's stock.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of Electronic Arts 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 completion of the transaction, the insider owned 58,092 shares of the company's stock, valued at $9,032,725.08. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the transaction, the executive vice president directly owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,800 shares of company stock worth $5,077,960 in the last 90 days. 0.24% of the stock is owned by company insiders.

Electronic Arts Stock Up 0.4%

Shares of EA traded up $0.73 during trading hours on Tuesday, hitting $174.15. The company had a trading volume of 778,671 shares, compared to its average volume of 3,387,551. The firm has a fifty day moving average price of $165.57 and a 200-day moving average price of $153.62. 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 stock has a market capitalization of $43.58 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 2.63 and a beta of 0.75. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup reiterated a "neutral" rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. UBS Group set a $167.00 price objective on Electronic Arts and gave the company a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the company an "equal weight" rating in a research report on Monday, July 28th. Robert W. Baird raised their price objective on Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Bank of America raised their price objective on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of "Moderate Buy" and an average price target of $167.40.

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.