Advisors Asset Management Inc. Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

Advisors Asset Management Inc. lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 63.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 565 shares of the game software company’s stock after selling 970 shares during the period. Advisors Asset Management Inc.’s holdings in Electronic Arts were worth $81,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts in the third quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts during the second quarter worth $28,000. Family Firm Inc. purchased a new stake in Electronic Arts in the 2nd quarter valued at $33,000. Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts in the 3rd quarter worth $36,000. Finally, Gradient Investments LLC raised its holdings in shares of Electronic Arts by 592.1% during the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.3 %

Shares of Electronic Arts stock opened at $163.67 on Friday. The company has a fifty day simple moving average of $151.54 and a 200-day simple moving average of $145.01. The stock has a market cap of $42.93 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 2.13 and a beta of 0.78. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. Electronic Arts’s payout ratio is 19.54%.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the transaction, the insider now directly owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $3,073,520 in the last 90 days. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EA. Argus lifted their price target on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Roth Mkm upped their price target on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

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.