Spire Wealth Management reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 58.9% during the first quarter, reports Holdings Channel.com. The institutional investor held 319 shares of the gaming software company after selling 457 shares during the period. Spire Wealth Management’s holdings in Electronic Arts were worth $40,000 at the end of the most recent reporting period.
A number of other major investors have also recently changed their stances in the company. Rothschild Investment Corp IL increased its stake in Electronic Arts by 2.0% in the 1st quarter. Rothschild Investment Corp IL now owns 7,485 shares of the games software company valued at $947,000 after buying an additional 150 shares in the last quarter. Cerro Pacific Wealth Advisors LLC increased its stake in Electronic Arts by 5.7% in the first quarter. Cerro Pacific Wealth Advisors LLC now owns 2,444 shares of the gaming software company valued at $309,000 after buying 131 additional shares in the last quarter. IFM Investors Pty Ltd increased its stake in Electronic Arts by 16.1% in the 1st quarter. IFM Investors Pty Ltd now owns 42,794 shares of the games software company valued at $5,414,000 after buying an additional 5,920 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in Electronic Arts by 20.8% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 54,756 shares of the gaming software company valued at $6,836,000 after buying an additional 9,419 shares in the last quarter. Finally, Townsend & Associates Inc increased its stake in Electronic Arts shares by 4.7% during the 1st quarter. Townsend & Associates Inc now owns 18,468 shares of the gaming software company worth $2,280,000 after buying 828 additional shares during the period. Hedge funds and other institutional investors hold 89.28% of the company’s shares.
Separately, insider Jacob J. Schatz sold 1,000 shares of the company in a trade dated Monday, April 18. The stock was sold at an average price of $122.34, for a total value of $122,340.00. Following the transaction, the insider now owns 14,468 shares of the company, valued at $1,770,015.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, insider Vijayanthimala Singh sold 800 shares of the company in a trade dated Friday, July 1. The stock was sold at an average price of $120.90, for a total value of $96,720.00. Following the completion of the transaction, the insider now owns 28,514 shares of the company, valued at approximately $3,447,342.60. The disclosure of this sale can be found here. Last quarter, insiders sold 60,295 shares of the company worth $7,732,812. Insiders own 0.37% of the shares of the company.
A number of brokerages have weighed in on EA. Ascendant Capital Markets set a price target of $160.00 on Electronic Arts in a Monday, June 20 research note. Goldman Sachs Group raised its price target on Electronic Arts from $125.00 to $133.00 and gave the stock a “neutral” rating in a Thursday, June 9 research note. Moffett Nathanson downgraded Electronic Arts from a “buy” rating to a “neutral” rating and raised its price target for the stock from $141.00 to $147.00 in a Friday, June 10 research note. Credit Suisse Group reduced its price target on Electronic Arts from $169.00 to $162.00 in a Wednesday, May 11 research note. Finally, Sanford C. Bernstein launched a coverage on electronic arts in a research note on Friday, April 22. They set an “outperform” rating and a price target of $157.00 on the stock. Five equity research analysts gave the stock a hold rating and sixteen gave the company a buy rating. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.75.
Shares of NASDAQ EA opened at $125.63 on Friday. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $147.76. The company has a market capitalization of $35.13 billion, a P/E ratio of 45.52, a P/E/G ratio of 2.02 and a beta of 0.84. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt ratio of 0.25. The stock has a fifty-day moving average price of $128.77 and a 200-day moving average price of $128.88.
Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly results on Tuesday, May 10. The gaming software company reported earnings per share (EPS) of $0.82 for the quarter, missing the consensus estimate of $1.04 per ($0.22). Electronic Arts achieved a net margin of 11.29% and a return on equity of 18.99%. The company posted revenue of $1.75 billion in the quarter, compared to analysts’ estimates of $1.77 billion. In the same quarter a year earlier, the company posted earnings per share of $0.72. The company’s revenue for the quarter increased 17.5% year over year. On average, sell-side analysts expect Electronic Arts Inc. to post EPS of 5.51 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22. Investors of record on Wednesday, June 8 received a dividend of $0.19. This is a boost from Electronic Arts’ previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 7. This represents an annualized dividend of $0.76 and a dividend yield of 0.60%. Electronic Arts’ payout ratio is 27.54%.
About Electronic Arts (Get an assessment)
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 in various genres, such as sports, racing, first-person shooter, action, role-playing and simulation, mainly under Battlefield, The Sims, Apex Legends, Need for Speed and other licensed games. , including FIFA, Madden NFL, UFC and Star Wars brands.
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