Prestige Wealth Management Group LLC Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Prestige Wealth Management Group LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,833 shares of the game software company’s stock after selling 277 shares during the period. Prestige Wealth Management Group LLC’s holdings in Electronic Arts were worth $561,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Electronic Arts by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock valued at $954,358,000 after purchasing an additional 26,505 shares in the last quarter. Amundi raised its position in shares of Electronic Arts by 4.3% in the 4th quarter. Amundi now owns 2,990,729 shares of the game software company’s stock valued at $431,315,000 after purchasing an additional 122,494 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Electronic Arts by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,789,283 shares of the game software company’s stock valued at $261,772,000 after acquiring an additional 23,289 shares in the last quarter. Swedbank AB lifted its position in shares of Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after purchasing an additional 95,190 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Electronic Arts by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock worth $213,089,000 after acquiring an additional 36,153 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the transaction, the chief executive officer now owns 32,615 shares of the company’s stock, valued at approximately $4,647,637.50. This represents a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $148.18, for a total transaction of $148,180.00. Following the sale, the chief financial officer now owns 8,750 shares of the company’s stock, valued at $1,296,575. This trade represents a 10.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,000 shares of company stock worth $3,166,740. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on EA. StockNews.com downgraded Electronic Arts from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Benchmark raised their target price on shares of Electronic Arts from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Ascendiant Capital Markets lifted their price target on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets decreased their target price on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Electronic Arts presently has an average rating of “Hold” and a consensus target price of $155.65.

Electronic Arts Stock Performance

Shares of EA opened at $144.55 on Tuesday. The stock has a market capitalization of $37.67 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The stock’s 50-day simple moving average is $132.81 and its 200 day simple moving average is $144.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. Research analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s dividend payout ratio is currently 19.34%.

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.