Electronic Arts Inc. (NASDAQ:EA) Shares Sold by US Bancorp DE

US Bancorp DE reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 135,410 shares of the game software company’s stock after selling 6,347 shares during the quarter. US Bancorp DE’s holdings in Electronic Arts were worth $19,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EA. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the second quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in Electronic Arts in the second quarter valued at approximately $33,000. New Covenant Trust Company N.A. acquired a new position in Electronic Arts in the first quarter valued at approximately $35,000. Gradient Investments LLC lifted its holdings in Electronic Arts by 592.1% in the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in Electronic Arts by 156.6% in the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, 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 completion of the transaction, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 1,260 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,120,638.61. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,644 shares of company stock worth $3,491,207 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EA shares. UBS Group upped their price objective on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer upped their price target on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Jefferies Financial Group assumed coverage on Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 price target on the stock. Stifel Nicolaus upped their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $160.00 price target (up from $154.00) on shares of Electronic Arts in a research note on Wednesday. Eight investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.39.

Electronic Arts Stock Performance

NASDAQ:EA opened at $151.26 on Friday. The firm has a market capitalization of $39.96 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.04 and a beta of 0.79. The business’s fifty day moving average price is $144.96 and its 200 day moving average price is $140.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.45. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $153.51.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.50%. Electronic Arts’s dividend payout ratio is presently 19.54%.

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.