Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 70.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,281 shares of the game software company's stock after selling 80,903 shares during the period. Walter Public Investments Inc.'s holdings in Electronic Arts were worth $4,954,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC grew its holdings in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after buying an additional 294 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Electronic Arts by 155.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the game software company's stock worth $401,000 after purchasing an additional 1,670 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Electronic Arts during the fourth quarter worth $41,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Electronic Arts by 5.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,944 shares of the game software company's stock worth $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Electronic Arts by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 245,911 shares of the game software company's stock worth $35,977,000 after purchasing an additional 14,480 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Argus set a $170.00 target price on Electronic Arts in a report on Friday, May 16th. Oppenheimer lifted their target price on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their price target for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. 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. Finally, Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.80.

Electronic Arts Stock Performance

EA stock traded down $0.89 during midday trading on Tuesday, reaching $152.64. The company had a trading volume of 1,710,449 shares, compared to its average volume of 2,815,559. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $150.78 and a 200 day moving average price of $142.38. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The firm has a market capitalization of $38.35 billion, a PE ratio of 36.00, a P/E/G ratio of 2.11 and a beta of 0.73.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts's dividend payout ratio is presently 17.92%.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the transaction, the insider directly owned 40,189 shares in the company, valued at approximately $6,252,202.73. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total value of $218,475.00. Following the transaction, the executive vice president owned 19,033 shares of the company's stock, valued at approximately $2,772,156.45. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,729 shares of company stock valued at $4,784,679. Corporate insiders own 0.24% of the company's stock.

Electronic Arts 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.