Foster Victor Wealth Advisors LLC Raises Stock Position in Electronic Arts Inc. $EA

Foster Victor Wealth Advisors LLC raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,972 shares of the game software company’s stock after purchasing an additional 2,644 shares during the period. Electronic Arts accounts for 1.2% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 25th biggest position. Foster Victor Wealth Advisors LLC’s holdings in Electronic Arts were worth $18,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Salomon & Ludwin LLC raised its position in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after purchasing an additional 68 shares during the last quarter. MTM Investment Management LLC purchased a new stake in Electronic Arts during the 2nd quarter worth approximately $30,000. Frazier Financial Advisors LLC increased its stake in Electronic Arts by 328.9% during the 2nd 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 in the last quarter. NewSquare Capital LLC raised its holdings in shares of Electronic Arts by 67.5% during the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after acquiring an additional 79 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Up 0.0%

Shares of EA opened at $203.92 on Friday. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $204.64. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $201.71 and a two-hundred day simple moving average of $178.28. The company has a market capitalization of $51.00 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $1.11 EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be given 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 payout ratio is presently 22.22%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EA. HSBC lowered Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price target on the stock. in a research note on Monday, September 29th. Zacks Research cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Benchmark reaffirmed a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. Hsbc Global Res cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Electronic Arts in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $181.21.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $204.11, for a total value of $244,932.00. Following the transaction, the insider owned 33,560 shares of the company’s stock, valued at $6,849,931.60. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total value of $302,475.00. Following the transaction, the chief financial officer owned 5,595 shares of the company’s stock, valued at approximately $1,128,231.75. This represents a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 141,169 shares of company stock worth $28,242,586. 0.24% of the stock is owned by company insiders.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.