Spire Wealth Management Sells 1,856 Shares of Electronic Arts Inc. (NASDAQ:EA)

Spire Wealth Management trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 89.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214 shares of the game software company's stock after selling 1,856 shares during the period. Spire Wealth Management's holdings in Electronic Arts were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the first quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts in the fourth quarter worth about $37,000. Finally, American National Bank & Trust bought a new position in shares of Electronic Arts during the first quarter valued at approximately $40,000. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on EA shares. Wedbush increased their price objective on Electronic Arts from $179.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. UBS Group raised 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. Citigroup reissued a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research report on Wednesday, May 7th. Finally, Hsbc Global Res raised shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and a consensus price target of $162.80.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $157.03 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $39.46 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.73. The stock's 50-day moving average is $150.29 and its two-hundred day moving average is $142.44. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is 17.92%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the sale, the insider owned 40,189 shares in the company, valued at approximately $6,252,202.73. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, the chief financial officer owned 14,533 shares in the company, valued at approximately $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,229 shares of company stock valued at $4,226,399. 0.22% of the stock is owned by 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.

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