Cornercap Investment Counsel Inc. Sells 8,349 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cornercap Investment Counsel Inc. trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 44.1% during the third quarter, HoldingsChannel reports. The firm owned 10,590 shares of the game software company’s stock after selling 8,349 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Electronic Arts were worth $1,519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC boosted its stake in Electronic Arts by 5.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock valued at $225,000 after purchasing an additional 76 shares during the period. Cullen Frost Bankers Inc. boosted its position in Electronic Arts by 2.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after buying an additional 79 shares in the last quarter. Shepherd Financial Partners LLC grew its position in Electronic Arts by 1.6% during the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock worth $816,000 after acquiring an additional 88 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Electronic Arts by 23.5% in the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after buying an additional 94 shares during the period. Finally, CWM LLC lifted its holdings in shares of Electronic Arts by 1.5% during the third quarter. CWM LLC now owns 6,302 shares of the game software company’s stock worth $904,000 after purchasing an additional 95 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $148.88, for a total transaction of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares in the company, valued at $8,448,493.36. This represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,120,638.61. The trade was a 14.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,144 shares of company stock valued at $3,886,282. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $164.12 on Friday. The company has a market capitalization of $43.04 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $164.42. The company has a 50-day simple moving average of $146.83 and a 200 day simple moving average of $142.21.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.46%. Electronic Arts’s payout ratio is 19.54%.

Analyst Ratings Changes

Several research analysts have commented on EA shares. Bank of America lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. UBS Group upped their target price on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 price target (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, Argus raised their price target on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

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.