Tounjian Advisory Partners LLC Sells 70 Shares of Electronic Arts Inc. $EA

Tounjian Advisory Partners LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,340 shares of the game software company’s stock after selling 70 shares during the quarter. Tounjian Advisory Partners LLC’s holdings in Electronic Arts were worth $693,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EA. Ameriprise Financial Inc. raised its stake in Electronic Arts by 197.5% during the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock worth $421,524,000 after acquiring an additional 1,936,313 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Electronic Arts during the first quarter worth $225,102,000. Nuveen LLC acquired a new position in Electronic Arts during the first quarter worth $203,537,000. Goldman Sachs Group Inc. raised its stake in Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock worth $470,197,000 after acquiring an additional 1,254,194 shares in the last quarter. Finally, ING Groep NV raised its stake in Electronic Arts by 3,477.8% during the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company’s stock worth $168,185,000 after acquiring an additional 1,131,220 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Trading Up 0.9%

EA stock opened at $173.59 on Thursday. The company has a market cap of $43.43 billion, a P/E ratio of 43.51, a PEG ratio of 2.61 and a beta of 0.75. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $164.16 and a 200-day moving average of $152.55.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s payout ratio is presently 19.05%.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total transaction of $205,824.00. Following the completion of the sale, the executive vice president directly owned 26,080 shares of the company’s stock, valued at $4,473,241.60. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the sale, the insider directly owned 34,731 shares of the company’s stock, valued at approximately $5,957,061.12. This trade represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,800 shares of company stock valued at $4,967,210 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EA shares. Robert W. Baird increased their price objective on Electronic Arts from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Citigroup reiterated a “neutral” rating and issued a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Bank of America lifted their price objective on Electronic Arts from $166.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Roth Capital upgraded Electronic Arts from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $210.00 price objective on shares of Electronic Arts in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.40.

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.