Walter Public Investments Inc. Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Walter Public Investments Inc. cut its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 70.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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.

Other large investors have also bought and sold shares of the company. Putney Financial Group LLC bought a new stake in Electronic Arts during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $28,000. LGT Financial Advisors LLC bought a new stake in shares of Electronic Arts in the 4th quarter worth approximately $33,000. Millstone Evans Group LLC purchased a new stake in shares of Electronic Arts in the 4th quarter worth approximately $37,000. Finally, Wayfinding Financial LLC bought a new position in Electronic Arts during the 1st quarter valued at approximately $39,000. 90.23% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the transaction, the insider owned 60,592 shares of the company's stock, valued at approximately $9,664,424. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the transaction, the executive vice president directly owned 29,948 shares of the company's stock, valued at $4,452,968.12. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,729 shares of company stock valued at $4,784,679 in the last three months. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on EA. Wedbush raised Electronic Arts to a "strong-buy" rating in a report on Tuesday, July 1st. Robert W. Baird set a $168.00 price target on shares of Electronic Arts in a research note on Wednesday, May 7th. TD Cowen raised their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Benchmark upped their price objective on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts currently has an average rating of "Moderate Buy" and an average price target of $162.80.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded down $2.61 during trading on Friday, hitting $148.69. The company had a trading volume of 1,840,332 shares, compared to its average volume of 2,813,521. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $37.36 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 2.05 and a beta of 0.73. The stock has a 50 day simple moving average of $151.14 and a 200 day simple moving average of $142.55.

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 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 was Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is 17.92%.

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.