Electronic Arts Inc. (NASDAQ:EA) Holdings Lowered by New Century Financial Group LLC

New Century Financial Group LLC lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,595 shares of the game software company’s stock after selling 399 shares during the quarter. New Century Financial Group LLC’s holdings in Electronic Arts were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. North Star Investment Management Corp. increased its position in shares of Electronic Arts by 333.3% in the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Electronic Arts in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the 2nd quarter worth approximately $28,000. YHB Investment Advisors Inc. purchased a new position in Electronic Arts during the 1st quarter worth approximately $30,000. Finally, Family Firm Inc. acquired a new stake in Electronic Arts during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America raised their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective on the stock. Finally, Wedbush boosted their price target on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

Electronic Arts Trading Down 0.8 %

Shares of EA stock opened at $142.25 on Wednesday. Electronic Arts Inc. has a 12 month low of $118.60 and a 12 month high of $153.51. The company has a market cap of $37.80 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 1.91 and a beta of 0.79. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $145.90 and its two-hundred day moving average is $138.07.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. Equities analysts predict that Electronic Arts Inc. will post 5.93 EPS for the current year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.53%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 3,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,095,185. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total value of $356,050.00. Following the completion of the sale, the chief executive officer now owns 59,247 shares in the company, valued at approximately $8,437,957.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stuart Canfield sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the chief financial officer now owns 7,553 shares in the company, valued at $1,095,185. The disclosure for this sale can be found here. Insiders sold a total of 27,270 shares of company stock worth $4,006,565 in the last 90 days. 0.22% of the stock is owned by company insiders.

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.