Commonwealth Equity Services LLC Has $3.82 Million Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Commonwealth Equity Services LLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 12.4% in the 1st quarter, HoldingsChannel reports. The fund owned 30,212 shares of the game software company’s stock after selling 4,284 shares during the period. Commonwealth Equity Services LLC’s holdings in Electronic Arts were worth $3,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. acquired a new position in Electronic Arts during the 4th quarter valued at about $28,000. Tyler Stone Wealth Management purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $33,000. North Star Investment Management Corp. grew its holdings in Electronic Arts by 111.1% during the fourth quarter. North Star Investment Management Corp. now owns 285 shares of the game software company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in Electronic Arts in the 4th quarter valued at $46,000. Finally, Sandy Cove Advisors LLC bought a new position in Electronic Arts during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 89.28% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $120.90, for a total transaction of $96,720.00. Following the completion of the sale, the insider now owns 28,514 shares of the company’s stock, valued at approximately $3,447,342.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $120.90, for a total value of $96,720.00. Following the completion of the sale, the insider now owns 28,514 shares in the company, valued at approximately $3,447,342.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 4,056 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $133.88, for a total value of $543,017.28. Following the transaction, the chief executive officer now directly owns 110,669 shares in the company, valued at $14,816,365.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,895 shares of company stock worth $7,692,454. Insiders own 0.37% of the company’s stock.

Electronic Arts Trading Down 0.5 %

Shares of EA stock opened at $132.56 on Friday. The business has a 50-day moving average price of $129.68 and a two-hundred day moving average price of $128.33. The firm has a market cap of $37.06 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.84. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $147.76. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA – Get Rating) last issued its earnings results on Tuesday, May 10th. The game software company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.22). Electronic Arts had a return on equity of 17.86% and a net margin of 12.43%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Electronic Arts’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Electronic Arts Inc. will post 5.45 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, August 30th. Electronic Arts’s dividend payout ratio (DPR) is presently 24.05%.

Wall Street Analysts Forecast Growth

EA has been the subject of several analyst reports. Cowen lowered their target price on shares of Electronic Arts from $180.00 to $158.00 in a report on Wednesday, May 11th. Truist Financial cut their target price on Electronic Arts to $154.00 and set a “buy” rating on the stock in a research note on Sunday, July 31st. Robert W. Baird decreased their price target on Electronic Arts from $165.00 to $140.00 in a research report on Wednesday, May 11th. Bank of America boosted their price objective on Electronic Arts from $148.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lowered their target price on Electronic Arts from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, June 13th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $154.13.

About Electronic Arts

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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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