Wedmont Private Capital Decreases Position in Electronic Arts Inc. (NASDAQ:EA)

Wedmont Private Capital reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,138 shares of the game software company’s stock after selling 326 shares during the period. Wedmont Private Capital’s holdings in Electronic Arts were worth $306,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in shares of Electronic Arts by 31.4% in the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company’s stock valued at $49,577,000 after purchasing an additional 80,968 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Electronic Arts by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock valued at $213,089,000 after buying an additional 36,153 shares during the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Electronic Arts in the fourth quarter valued at approximately $3,730,000. Nomura Holdings Inc. boosted its holdings in shares of Electronic Arts by 11.7% in the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company’s stock valued at $4,566,000 after acquiring an additional 3,259 shares during the period. Finally, Portfolio Design Labs LLC grew its position in shares of Electronic Arts by 18.8% during the fourth quarter. Portfolio Design Labs LLC now owns 25,065 shares of the game software company’s stock worth $3,667,000 after acquiring an additional 3,968 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

Shares of EA opened at $147.68 on Thursday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The stock has a market cap of $37.03 billion, a P/E ratio of 37.58, a PEG ratio of 3.58 and a beta of 0.71. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $146.25 and a two-hundred day moving average of $143.50.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s payout ratio is currently 17.92%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the sale, the insider now owns 40,189 shares in the company, valued at $6,252,202.73. This trade represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,615 shares of the company’s stock, valued at approximately $4,647,637.50. This represents a 13.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,729 shares of company stock worth $4,107,664. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Moffett Nathanson reissued a “neutral” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Ascendiant Capital Markets upped their price objective on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Argus set a $170.00 price objective on Electronic Arts in a research report on Friday, May 16th. Wedbush boosted their target price on Electronic Arts from $179.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, UBS Group upped their price target on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $161.88.

About Electronic Arts

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.