Howe & Rusling Inc. Trims Position in Electronic Arts Inc. $EA

Howe & Rusling Inc. lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 12.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,505 shares of the game software company’s stock after selling 207 shares during the quarter. Howe & Rusling Inc.’s holdings in Electronic Arts were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EA. Putney Financial Group LLC purchased a new position in Electronic Arts during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter worth about $28,000. Bank of Jackson Hole Trust grew its holdings in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Electronic Arts during the first quarter worth about $39,000. Finally, American National Bank & Trust purchased a new position in shares of Electronic Arts during the first quarter worth about $40,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA stock opened at $172.38 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90. The firm’s fifty day moving average is $162.98 and its 200 day moving average is $151.68. The firm has a market cap of $43.13 billion, a P/E ratio of 43.20, a P/E/G ratio of 2.19 and a beta of 0.75.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.05%.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the transaction, the insider owned 58,092 shares of the company’s stock, valued at approximately $9,032,725.08. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $172.26, for a total transaction of $206,712.00. Following the transaction, the insider directly owned 35,931 shares in the company, valued at approximately $6,189,474.06. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,900 shares of company stock worth $4,778,597 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EA shares. Roth Capital raised Electronic Arts from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the stock an “equal weight” rating in a report on Monday, July 28th. Arete Research set a $192.00 price objective on Electronic Arts in a report on Tuesday, August 5th. Bank of America boosted their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Finally, Wedbush reissued an “outperform” rating and set a $210.00 price objective on shares of Electronic Arts in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.12.

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.