Checchi Capital Advisers LLC Reduces Stock Holdings in Electronic Arts Inc. $EA

Checchi Capital Advisers LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,461 shares of the game software company’s stock after selling 82 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Electronic Arts were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Norden Group LLC bought a new position in shares of Electronic Arts during the 2nd quarter worth $214,000. Focus Partners Advisor Solutions LLC bought a new stake in Electronic Arts in the 1st quarter valued at about $319,000. CCM Investment Group LLC purchased a new stake in Electronic Arts during the first quarter valued at about $1,625,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Electronic Arts by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company’s stock worth $94,456,000 after purchasing an additional 13,461 shares during the period. Finally, Foster Victor Wealth Advisors LLC increased its stake 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 worth $13,944,000 after purchasing an additional 3,999 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Trading Down 0.1%

Electronic Arts stock opened at $200.46 on Tuesday. 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 fifty-two week low of $115.21 and a fifty-two week high of $203.75. The stock has a market cap of $50.16 billion, a P/E ratio of 50.24, a PEG ratio of 3.03 and a beta of 0.77. The firm’s fifty day moving average price is $173.42 and its 200-day moving average price is $157.15.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were issued a $0.19 dividend. The ex-dividend date of this dividend was 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 presently 19.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on EA. Roth Capital cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price target for the company from $185.00 to $210.00 in a research note on Thursday. Robert W. Baird restated a “neutral” rating and set a $210.00 target price (up previously from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Cowen lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Arete Research set a $192.00 price target on Electronic Arts in a research report on Tuesday, August 5th. Finally, Bank of America increased 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.00.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the sale, the chief financial officer directly owned 5,140 shares of the company’s stock, valued at $1,045,476. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total transaction of $205,824.00. Following the sale, the executive vice president owned 26,080 shares of the company’s stock, valued at approximately $4,473,241.60. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,000 shares of company stock worth $7,247,635. 0.24% of the stock is owned by insiders.

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.