Palouse Capital Management Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 75.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,221 shares of the game software company's stock after selling 6,858 shares during the quarter. Palouse Capital Management Inc.'s holdings in Electronic Arts were worth $325,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of EA. Larson Financial Group LLC grew its stake in 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 purchasing an additional 70 shares in the last quarter. Claro Advisors LLC raised its stake in Electronic Arts by 3.4% during the 4th quarter. Claro Advisors LLC now owns 2,285 shares of the game software company's stock valued at $334,000 after acquiring an additional 75 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Electronic Arts by 5.1% during 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. Ballentine Partners LLC increased its position in shares of Electronic Arts by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company's stock valued at $550,000 after purchasing an additional 82 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Electronic Arts by 1.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,837 shares of the game software company's stock valued at $708,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.
Electronic Arts Price Performance
Shares of NASDAQ EA traded up $1.71 during midday trading on Wednesday, reaching $130.06. 2,455,774 shares of the company were exchanged, compared to its average volume of 4,190,026. The stock has a market cap of $33.90 billion, a P/E ratio of 33.12, a PEG ratio of 3.54 and a beta of 0.79. The stock's 50-day moving average price is $138.96 and its 200-day moving average price is $146.57. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50.
Electronic Arts (NASDAQ:EA - Get Free Report) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 4.75 earnings per share for the current fiscal year.
Electronic Arts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, February 26th. Electronic Arts's payout ratio is presently 19.34%.
Insider Buying and Selling
In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $156.27, for a total transaction of $234,405.00. Following the completion of the sale, the executive vice president now directly owns 24,886 shares of the company's stock, valued at approximately $3,888,935.22. This represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.03, for a total transaction of $122,030.00. Following the sale, the insider now directly owns 28,216 shares of the company's stock, valued at approximately $3,443,198.48. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock worth $2,812,285 in the last 90 days. 0.22% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on EA. Argus lifted their price objective on Electronic Arts from $161.00 to $183.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Citigroup lowered their price objective on Electronic Arts from $163.00 to $139.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Moffett Nathanson raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $145.00 target price on the stock in a report on Friday, January 31st. BMO Capital Markets reduced their price objective on Electronic Arts from $145.00 to $142.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, BNP Paribas downgraded Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 price target on the stock. in a research note on Monday, January 27th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $154.55.
Read Our Latest Research Report on EA
About Electronic Arts
(
Free Report)
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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