SouthState Corp Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

SouthState Corp lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.8% during the second quarter, HoldingsChannel.com reports. The firm owned 4,387 shares of the game software company’s stock after selling 220 shares during the period. SouthState Corp’s holdings in Electronic Arts were worth $611,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. North Star Investment Management Corp. increased its holdings in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in 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 acquiring an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Electronic Arts during the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the 2nd quarter worth about $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Electronic Arts in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares in the company, valued at approximately $4,579,823. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the sale, the insider now directly owns 30,190 shares of the company’s stock, valued at $4,579,823. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the completion of the transaction, the executive vice president now directly owns 27,860 shares of the company’s stock, valued at $4,160,055.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,070 shares of company stock worth $3,963,638. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on EA shares. Citigroup lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and raised their price target for the company from $148.00 to $161.00 in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $154.00 price target on shares of Electronic Arts in a research report on Tuesday, July 30th. UBS Group raised their price objective on Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their target price on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. 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, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $161.28.

Electronic Arts Trading Down 0.8 %

EA opened at $145.91 on Friday. The stock has a market capitalization of $38.77 billion, a PE ratio of 31.18, 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 current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51. The firm’s fifty day moving average price is $145.55 and its 200 day moving average price is $137.54.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s payout ratio is 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.