Managed Asset Portfolios LLC Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

Managed Asset Portfolios LLC decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,705 shares of the game software company’s stock after selling 234 shares during the period. Managed Asset Portfolios LLC’s holdings in Electronic Arts were worth $6,843,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EA. Huntington National Bank lifted its stake in Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after acquiring an additional 234,098 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Electronic Arts by 34.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock worth $1,982,000 after buying an additional 3,681 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Electronic Arts in the third quarter valued at approximately $5,597,000. Chesapeake Capital Corp IL purchased a new stake in shares of Electronic Arts during the third quarter valued at approximately $950,000. Finally, Czech National Bank lifted its holdings in Electronic Arts by 8.3% during the second quarter. Czech National Bank now owns 46,360 shares of the game software company’s stock worth $6,459,000 after acquiring an additional 3,554 shares during the period. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EA. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $177.00 in a research note on Thursday, October 31st. BMO Capital Markets restated an “outperform” rating and set a $160.00 price objective (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Roth Mkm lifted 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. Robert W. Baird increased their target price on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Stock Performance

NASDAQ:EA opened at $166.67 on Friday. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $168.50. The business’s fifty day moving average is $149.36 and its 200 day moving average is $143.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $43.71 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 2.19 and a beta of 0.78.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Insider Activity

In related news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,384 shares of company stock worth $4,776,635. 0.22% of the stock is owned by company insiders.

Electronic Arts 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.