Carnegie Investment Counsel Sells 3,335 Shares of Electronic Arts Inc. (NASDAQ:EA)

Carnegie Investment Counsel lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,595 shares of the game software company's stock after selling 3,335 shares during the period. Carnegie Investment Counsel's holdings in Electronic Arts were worth $819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Electronic Arts during the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. raised its holdings in Electronic Arts by 141.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company's stock worth $29,000 after purchasing an additional 117 shares in the last quarter. Reston Wealth Management LLC bought a new position in Electronic Arts in the third quarter worth $36,000. Bruce G. Allen Investments LLC lifted its position in Electronic Arts by 156.6% during the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company's stock valued at $39,000 after buying an additional 166 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Electronic Arts by 31.8% during the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $145.87, for a total value of $364,675.00. Following the sale, the chief executive officer now directly owns 51,747 shares in the company, valued at approximately $7,548,334.89. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total value of $215,175.00. Following the transaction, the executive vice president now owns 23,386 shares of the company's stock, valued at approximately $3,354,721.70. The trade was a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,500 shares of company stock worth $3,637,660 over the last three months. 0.22% of the stock is owned by insiders.

Electronic Arts Price Performance

NASDAQ:EA traded up $0.60 during trading hours on Friday, reaching $142.00. The stock had a trading volume of 4,006,080 shares, compared to its average volume of 1,721,212. The stock has a market capitalization of $37.24 billion, a PE ratio of 36.50, a PEG ratio of 1.84 and a beta of 0.80. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $168.50. The company has a 50 day moving average price of $155.38 and a two-hundred day moving average price of $149.12. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a $0.19 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. Electronic Arts's dividend payout ratio is presently 19.54%.

Analysts Set New Price Targets

Several analysts recently weighed in on EA shares. Stifel Nicolaus restated a "hold" rating and issued a $167.00 price target on shares of Electronic Arts in a research note on Wednesday, December 18th. BNP Paribas raised Electronic Arts to a "strong-buy" rating in a research note on Wednesday, October 9th. UBS Group lifted their price target on Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Argus increased their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.37.

Electronic Arts Company 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.