Palouse Capital Management Inc. Has $1.30 Million Holdings in Electronic Arts Inc. (NASDAQ:EA)

Palouse Capital Management Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,079 shares of the game software company’s stock after selling 398 shares during the period. Palouse Capital Management Inc.’s holdings in Electronic Arts were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after purchasing an additional 3,727,251 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after buying an additional 2,090,504 shares during the period. Swedbank AB acquired a new stake in Electronic Arts during the 1st quarter worth about $201,935,000. Jericho Capital Asset Management L.P. bought a new position in shares of Electronic Arts in the 1st quarter worth about $189,055,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Electronic Arts during the 2nd quarter valued at about $188,159,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.6 %

Shares of NASDAQ EA traded up $0.92 during trading hours on Monday, hitting $145.27. The company’s stock had a trading volume of 706,998 shares, compared to its average volume of 2,055,275. Electronic Arts Inc. has a 12 month low of $119.92 and a 12 month high of $153.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50-day simple moving average of $145.17 and a 200-day simple moving average of $139.11. The stock has a market cap of $38.60 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 1.95 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, analysts anticipate that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s payout ratio is currently 16.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EA. BMO Capital Markets reissued an “outperform” rating and set a $154.00 target price on shares of Electronic Arts in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Raymond James raised their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. UBS Group increased their price objective on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

Insider Buying and Selling at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the transaction, the chief executive officer now directly owns 54,247 shares of the company’s stock, valued at $7,675,950.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,770 shares of company stock valued at $3,643,785. Corporate insiders own 0.22% of the company’s stock.

About Electronic Arts

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.