iA Global Asset Management Inc. Sells 912 Shares of Electronic Arts Inc. $EA

iA Global Asset Management Inc. lowered its holdings in Electronic Arts Inc. (NASDAQ:EA) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,776 shares of the game software company’s stock after selling 912 shares during the quarter. iA Global Asset Management Inc.’s holdings in Electronic Arts were worth $4,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EA. Salomon & Ludwin LLC increased its stake in Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after acquiring an additional 68 shares during the period. Bank of Jackson Hole Trust grew its stake in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the last quarter. Frazier Financial Advisors LLC grew its stake in Electronic Arts by 328.9% during the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after buying an additional 148 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Electronic Arts during the first quarter worth about $39,000. Finally, Costello Asset Management INC bought a new stake in Electronic Arts during the first quarter worth about $40,000. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $200.55, for a total value of $1,002,750.00. Following the transaction, the chief executive officer directly owned 42,393 shares in the company, valued at $8,501,916.15. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the transaction, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,400 shares of company stock valued at $7,359,462 over the last three months. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EA. DA Davidson upped their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Roth Capital cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $185.00 to $210.00 in a research note on Thursday, October 2nd. DZ Bank cut shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. BMO Capital Markets upped their price objective on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley upped their price objective on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $181.64.

Electronic Arts Price Performance

EA opened at $200.06 on Monday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day simple moving average is $186.18 and its 200-day simple moving average is $165.15. The stock has a market capitalization of $50.06 billion, a P/E ratio of 58.50, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s dividend payout ratio is 22.22%.

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.