Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,633 shares of the game software company’s stock after selling 350 shares during the quarter. Electronic Arts makes up about 2.0% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 21st largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Electronic Arts were worth $5,969,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Electronic Arts by 16.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock valued at $3,086,621,000 after buying an additional 3,600,388 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Electronic Arts by 82.3% during the 4th quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock valued at $322,494,000 after acquiring an additional 1,064,022 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Electronic Arts during the third quarter worth about $75,124,000. Assenagon Asset Management S.A. increased its position in Electronic Arts by 480.5% during the third quarter. Assenagon Asset Management S.A. now owns 499,277 shares of the game software company’s stock worth $60,113,000 after purchasing an additional 413,276 shares during the last quarter. Finally, Morgan Stanley raised its stake in Electronic Arts by 13.0% during the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock worth $408,084,000 after purchasing an additional 389,063 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

EA stock traded down $0.08 on Wednesday, hitting $127.06. The company’s stock had a trading volume of 410,579 shares, compared to its average volume of 2,003,001. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $144.53. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. The firm has a 50 day moving average of $134.30 and a two-hundred day moving average of $134.57.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.38). Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the company posted $2.29 EPS. Electronic Arts’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Electronic Arts Inc. will post 5.36 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Tuesday, February 27th. Electronic Arts’s dividend payout ratio (DPR) is 19.14%.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total transaction of $109,944.00. Following the sale, the insider now directly owns 28,683 shares in the company, valued at approximately $3,941,904.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $137.43, for a total transaction of $109,944.00. Following the completion of the transaction, the insider now owns 28,683 shares of the company’s stock, valued at $3,941,904.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $138.88, for a total transaction of $347,200.00. Following the completion of the transaction, the chief executive officer now directly owns 30,930 shares of the company’s stock, valued at approximately $4,295,558.40. The disclosure for this sale can be found here. Insiders sold 37,144 shares of company stock valued at $5,143,560 in the last three months. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on EA shares. Benchmark reissued a “buy” rating and issued a $153.00 price target on shares of Electronic Arts in a research note on Thursday, April 18th. UBS Group cut their target price on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research note on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a report on Wednesday, January 31st. BMO Capital Markets began coverage on Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Oppenheimer restated an “outperform” rating and set a $150.00 price target on shares of Electronic Arts in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.