Raymond James Financial Inc. Reduces Stock Position in Electronic Arts Inc. $EA

Key Points

• Raymond James Financial Inc. reduced its stock holdings in Electronic Arts by 3.9%, ending the first quarter with approximately 225,609 shares worth $32.6 million after selling 9,075 shares.
• Several hedge funds increased their positions in Electronic Arts during the same quarter, with 90.23% of the stock owned by institutional investors.
• The company recently announced a quarterly dividend of $0.19 per share, payable on September 17, with an annualized yield of 0.4%.

Raymond James Financial Inc. cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,609 shares of the game software company's stock after selling 9,075 shares during the quarter. Raymond James Financial Inc. owned approximately 0.09% of Electronic Arts worth $32,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Management Professionals Inc. increased its holdings in Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares during the last quarter. Bank of Jackson Hole Trust grew its position in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Electronic Arts by 34.2% in the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after acquiring an additional 76 shares in the last quarter. Clarius Group LLC grew its position in shares of Electronic Arts by 3.6% in the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after acquiring an additional 77 shares in the last quarter. Finally, Conning Inc. grew its position in shares of Electronic Arts by 4.7% in the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after acquiring an additional 78 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Trading Down 0.1%

NASDAQ:EA opened at $171.40 on Friday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. The firm has a market capitalization of $42.89 billion, a P/E ratio of 42.96, a P/E/G ratio of 2.21 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day simple moving average of $158.41 and a 200 day simple moving average of $147.70.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is presently 19.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Argus set a $170.00 target price on Electronic Arts in a research report on Friday, May 16th. Benchmark lifted their target price on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Robert W. Baird lifted their target price on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction on Friday, August 15th. The stock was sold at an average price of $174.65, for a total transaction of $209,580.00. Following the sale, the executive vice president owned 27,248 shares of the company's stock, valued at $4,758,863.20. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,200 shares of company stock worth $4,142,660 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

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.

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