Ridgewood Investments LLC Sells 491 Shares of Electronic Arts Inc. $EA

Ridgewood Investments LLC decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 819 shares of the game software company’s stock after selling 491 shares during the quarter. Ridgewood Investments LLC’s holdings in Electronic Arts were worth $131,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC acquired a new stake in Electronic Arts during the 1st quarter worth about $319,000. CCM Investment Group LLC acquired a new stake in Electronic Arts during the 1st quarter worth about $1,625,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Electronic Arts by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company’s stock worth $94,456,000 after acquiring an additional 13,461 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in Electronic Arts by 5.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,892 shares of the game software company’s stock worth $15,300,000 after acquiring an additional 5,275 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Electronic Arts by 4.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,571 shares of the game software company’s stock worth $23,495,000 after acquiring an additional 6,835 shares during the period. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $173.42 on Tuesday. The firm’s 50-day moving average price is $165.57 and its 200-day moving average price is $153.62. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The firm has a market capitalization of $43.39 billion, a P/E ratio of 43.46, a P/E/G ratio of 2.63 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

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

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $172.79, for a total value of $863,950.00. Following the sale, the chief executive officer owned 47,393 shares in the company, valued at $8,189,036.47. This represents a 9.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated 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 insider owned 34,731 shares in the company, valued at $5,957,061.12. This represents a 3.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,800 shares of company stock worth $5,077,960 over the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on EA shares. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the stock an “equal weight” rating in a report on Monday, July 28th. Bank of America increased their price target on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. UBS Group set a $167.00 price objective on shares of Electronic Arts and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, Robert W. Baird upped their price objective on shares of Electronic Arts from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.40.

About Electronic Arts

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.