Galvin Gaustad & Stein LLC Has $2.13 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Galvin Gaustad & Stein LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 90.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,849 shares of the game software company’s stock after selling 148,505 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Electronic Arts were worth $2,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EA. Vanguard Group Inc. grew its stake in Electronic Arts by 14.7% in the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the period. Swedbank AB acquired a new position in Electronic Arts in the 1st quarter worth $201,935,000. Jericho Capital Asset Management L.P. acquired a new position in Electronic Arts in the 1st quarter worth $189,055,000. Finally, Manning & Napier Advisors LLC bought a new position in Electronic Arts during the 2nd quarter worth about $188,159,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and raised their price target for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. Roth Mkm boosted their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen increased their target price on shares of Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark reiterated a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Stock Performance

Shares of EA stock opened at $157.91 on Friday. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $160.31. The company has a current ratio of 1.43, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $41.42 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.00 and a beta of 0.78. The business’s 50-day moving average price is $145.66 and its 200-day moving average price is $141.24.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.48%. Electronic Arts’s dividend payout ratio is 19.54%.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the transaction, the insider now directly owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock worth $3,886,282 over the last three months. Company insiders own 0.22% of the company’s stock.

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.