Procyon Advisors LLC Acquires Shares of 5,113 Electronic Arts Inc. (NASDAQ:EA)

Procyon Advisors LLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the first quarter, HoldingsChannel.com reports. The fund acquired 5,113 shares of the game software company’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Putney Financial Group LLC purchased a new position in shares of Electronic Arts in the fourth quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in Electronic Arts in the 4th quarter worth $32,000. LGT Financial Advisors LLC purchased a new position in Electronic Arts in the 4th quarter valued at about $33,000. Millstone Evans Group LLC purchased a new position in Electronic Arts in the 4th quarter valued at about $37,000. Finally, American National Bank & Trust acquired a new stake in shares of Electronic Arts during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $155.57, for a total value of $388,925.00. Following the sale, the insider now owns 40,189 shares in the company, valued at approximately $6,252,202.73. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total value of $712,500.00. Following the sale, the chief executive officer now directly owns 32,615 shares in the company, valued at approximately $4,647,637.50. This trade represents a 13.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,729 shares of company stock worth $4,107,664. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Hsbc Global Res upgraded Electronic Arts from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 7th. Citigroup restated a “neutral” rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Ascendiant Capital Markets upped their target price on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. TD Cowen raised their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.88.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $149.57 on Friday. The company has a market cap of $37.51 billion, a PE ratio of 38.06, a P/E/G ratio of 3.58 and a beta of 0.71. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The firm has a 50-day simple moving average of $145.91 and a 200 day simple moving average of $143.75. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, May 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 17.92%.

Electronic Arts Company 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.