Thrivent Financial for Lutherans Sells 9,482 Shares of Electronic Arts Inc. $EA

Thrivent Financial for Lutherans cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 48.5% during the fourth quarter, HoldingsChannel reports. The firm owned 10,060 shares of the game software company’s stock after selling 9,482 shares during the period. Thrivent Financial for Lutherans’ holdings in Electronic Arts were worth $2,055,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Electronic Arts by 2.4% during the third quarter. EverSource Wealth Advisors LLC now owns 2,108 shares of the game software company’s stock worth $425,000 after purchasing an additional 50 shares during the last quarter. Salomon & Ludwin LLC raised its position in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Ballentine Partners LLC raised its position in Electronic Arts by 1.2% in the third quarter. Ballentine Partners LLC now owns 4,783 shares of the game software company’s stock worth $965,000 after acquiring an additional 59 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in Electronic Arts by 5.9% in the third quarter. Physician Wealth Advisors Inc. now owns 1,053 shares of the game software company’s stock worth $212,000 after acquiring an additional 59 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Electronic Arts by 3.6% in the third quarter. Linden Thomas Advisory Services LLC now owns 1,941 shares of the game software company’s stock worth $392,000 after acquiring an additional 67 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Up 0.1%

EA opened at $201.13 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a market cap of $50.43 billion, a P/E ratio of 57.63, a PEG ratio of 2.22 and a beta of 0.66. Electronic Arts Inc. has a 52 week low of $141.19 and a 52 week high of $204.88. The business’s fifty day simple moving average is $202.02 and its 200 day simple moving average is $202.25.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is presently 21.78%.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $200.54, for a total transaction of $501,350.00. Following the sale, the insider owned 40,843 shares of the company’s stock, valued at $8,190,655.22. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the sale, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 39,906 shares of company stock valued at $8,032,336. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on EA. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup increased their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Hold” and an average target price of $196.64.

Electronic Arts Company Profile

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.