D.B. Root & Company LLC Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

D.B. Root & Company LLC decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 4,982 shares of the game software company’s stock after selling 70 shares during the period. D.B. Root & Company LLC’s holdings in Electronic Arts were worth $694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EA. North Star Investment Management Corp. grew its holdings in shares of Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the second quarter worth approximately $28,000. Finally, Larson Financial Group LLC purchased a new stake in Electronic Arts in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total value of $127,150.00. Following the completion of the transaction, the executive vice president now owns 17,426 shares in the company, valued at $2,215,715.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total value of $127,150.00. Following the completion of the transaction, the executive vice president now owns 17,426 shares in the company, valued at $2,215,715.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Luis A. Ubinas sold 2,126 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The disclosure for this sale can be found here. Insiders sold a total of 25,365 shares of company stock worth $3,509,502 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer upped their target price on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. UBS Group upped their target price on Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Wedbush boosted their price objective on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.16.

Electronic Arts Trading Down 0.5 %

Shares of Electronic Arts stock traded down $0.69 during midday trading on Monday, reaching $145.91. 1,794,374 shares of the company’s stock traded hands, compared to its average volume of 2,173,713. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45. The company has a market cap of $38.77 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The stock has a 50 day moving average of $141.74 and a 200-day moving average of $136.29. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $153.51.

Electronic Arts Announces Dividend

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

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.