Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,930 shares of the game software company’s stock after selling 585 shares during the period. Carnegie Investment Counsel’s holdings in Electronic Arts were worth $1,244,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its stake in 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 valued at $26,000 after purchasing an additional 150 shares during the last quarter. Cape Investment Advisory Inc. grew its position in Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Electronic Arts in the first quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the 2nd quarter valued at $28,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at $30,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Up 0.3 %

Shares of NASDAQ EA traded up $0.43 during trading hours on Wednesday, hitting $149.48. The stock had a trading volume of 303,945 shares, compared to its average volume of 2,136,320. The firm’s 50-day moving average price is $143.06 and its two-hundred day moving average price is $136.71. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The company has a market capitalization of $39.72 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s dividend payout ratio is 16.24%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $132.24, for a total transaction of $330,600.00. Following the transaction, the chief executive officer now directly owns 64,247 shares in the company, valued at $8,496,023.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total value of $106,304.00. Following the transaction, the insider now owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $132.24, for a total transaction of $330,600.00. Following the sale, the chief executive officer now directly owns 64,247 shares of the company’s stock, valued at $8,496,023.28. The disclosure for this sale can be found here. Insiders have sold a total of 17,986 shares of company stock worth $2,545,726 in the last 90 days. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EA shares. Bank of America boosted their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush upped their price objective on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Citigroup cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and raised their target price for the stock from $148.00 to $161.00 in a report on Monday, July 15th. Stifel Nicolaus boosted their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.28.

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.