Electronic Arts (NASDAQ:EA) Downgraded to Hold Rating by Hsbc Global Res

Hsbc Global Res lowered shares of Electronic Arts (NASDAQ:EA) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on EA. Robert W. Baird reissued a “neutral” rating and set a $210.00 price target (up previously from $170.00) on shares of Electronic Arts in a research report on Monday. Wall Street Zen cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Arete Research set a $192.00 target price on shares of Electronic Arts in a research report on Tuesday, August 5th. HSBC lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price target on the stock. in a research note on Monday. Finally, Citigroup reiterated a “neutral” rating on shares of Electronic Arts in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.64.

Electronic Arts Price Performance

Electronic Arts stock opened at $202.05 on Monday. The company has a fifty day simple moving average of $168.65 and a 200-day simple moving average of $155.12. 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 firm has a market capitalization of $50.55 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.94 and a beta of 0.75. Electronic Arts has a 52-week low of $115.21 and a 52-week high of $203.75.

Electronic Arts Announces Dividend

The firm also recently declared 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 yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts’s dividend payout ratio is 19.05%.

Insiders Place Their Bets

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares of the company’s stock, valued at $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the transaction, the executive vice president directly owned 28,448 shares of the company’s stock, valued at $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,300 shares of company stock valued at $4,519,680. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Electronic Arts

Large investors have recently modified their holdings of the company. Norden Group LLC acquired a new stake in shares of Electronic Arts in the second quarter valued at approximately $214,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Electronic Arts in the first quarter valued at approximately $319,000. CCM Investment Group LLC acquired a new stake in shares of Electronic Arts in the first quarter valued at approximately $1,625,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Electronic Arts by 2.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company’s stock valued at $94,456,000 after acquiring an additional 13,461 shares during the period. Finally, Foster Victor Wealth Advisors LLC boosted its holdings in shares of Electronic Arts by 4.6% in the second quarter. Foster Victor Wealth Advisors LLC now owns 91,328 shares of the game software company’s stock valued at $13,944,000 after acquiring an additional 3,999 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

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.