Procyon Advisors LLC Acquires 4,774 Shares of Electronic Arts Inc. $EA

Procyon Advisors LLC raised its holdings in Electronic Arts Inc. (NASDAQ:EA) by 95.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,755 shares of the game software company’s stock after acquiring an additional 4,774 shares during the quarter. Procyon Advisors LLC’s holdings in Electronic Arts were worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EA. Salomon & Ludwin LLC grew its stake in shares of Electronic Arts by 70.1% in the second 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. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Electronic Arts by 131.9% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock worth $34,000 after buying an additional 95 shares during the period. MTM Investment Management LLC acquired a new position in Electronic Arts during the 2nd quarter worth about $30,000. Frazier Financial Advisors LLC grew its position in shares of Electronic Arts by 328.9% in the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after buying an additional 148 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in shares of Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $204.11, for a total value of $244,932.00. Following the completion of the sale, the insider directly owned 33,560 shares of the company’s stock, valued at $6,849,931.60. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $204.11, for a total value of $1,020,550.00. Following the completion of the transaction, the chief executive officer owned 43,858 shares in the company, valued at approximately $8,951,856.38. The trade was a 10.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,069 shares of company stock worth $24,169,349 over the last 90 days. 0.24% of the stock is owned by company insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $204.15 on Friday. The company has a fifty day moving average of $203.20 and a 200-day moving average of $185.08. The firm has a market capitalization of $51.06 billion, a P/E ratio of 59.69, a P/E/G ratio of 2.41 and a beta of 0.73. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $204.88.

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

Electronic Arts Dividend Announcement

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

Wall Street Analyst Weigh In

EA has been the topic of a number of recent analyst reports. Roth Capital lowered Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $185.00 to $210.00 in a research note on Thursday, October 2nd. Benchmark restated a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. TD Cowen lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Citigroup lifted their target price on shares of Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.21.

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.