Grove Bank & Trust Sells 169 Shares of Electronic Arts Inc. (NASDAQ:EA)

Grove Bank & Trust lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 34.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325 shares of the game software company’s stock after selling 169 shares during the period. Grove Bank & Trust’s holdings in Electronic Arts were worth $47,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in EA. BI Asset Management Fondsmaeglerselskab A S increased its position in Electronic Arts by 82.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock worth $3,327,000 after buying an additional 11,343 shares during the last quarter. FORA Capital LLC boosted its stake in shares of Electronic Arts by 209.7% during the 1st quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock worth $6,101,000 after acquiring an additional 31,136 shares during the period. Duality Advisers LP acquired a new position in shares of Electronic Arts during the 1st quarter worth approximately $1,711,000. State Board of Administration of Florida Retirement System raised its stake in Electronic Arts by 13.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock valued at $46,258,000 after acquiring an additional 41,567 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $146.42 on Wednesday. The business’s 50-day moving average price is $145.26 and its 200-day moving average price is $138.86. Electronic Arts Inc. has a 12 month low of $119.92 and a 12 month high of $153.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $38.91 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.95 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The firm 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 research analysts forecast that Electronic Arts Inc. will post 5.93 EPS for the current year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s payout ratio is presently 16.24%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the 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 sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the transaction, the chief executive officer now directly owns 54,247 shares of the company’s stock, valued at approximately $7,675,950.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,270 shares of company stock worth $3,426,705. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a report on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $154.00 price target on shares of Electronic Arts in a research note on Tuesday, July 30th. Oppenheimer increased their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

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.