AlphaCore Capital LLC Sells 2,431 Shares of Electronic Arts Inc. $EA

AlphaCore Capital LLC lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 83.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 491 shares of the game software company’s stock after selling 2,431 shares during the period. AlphaCore Capital LLC’s holdings in Electronic Arts were worth $78,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mufg Securities Americas Inc. lifted its position in shares of Electronic Arts by 20.5% during the 2nd quarter. Mufg Securities Americas Inc. now owns 5,057 shares of the game software company’s stock worth $808,000 after purchasing an additional 859 shares during the last quarter. Evelyn Partners Investment Management Services Ltd boosted its stake in Electronic Arts by 9,082.0% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 12,212 shares of the game software company’s stock valued at $1,966,000 after buying an additional 12,079 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in shares of Electronic Arts during the 2nd quarter worth about $400,000. Mediolanum International Funds Ltd grew its position in Electronic Arts by 97.5% during the 2nd quarter. Mediolanum International Funds Ltd now owns 92,952 shares of the game software company’s stock worth $14,662,000 after acquiring an additional 45,880 shares during the last quarter. Finally, MAI Capital Management raised its holdings in shares of Electronic Arts by 27.6% in the second quarter. MAI Capital Management now owns 939 shares of the game software company’s stock valued at $150,000 after buying an additional 203 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EA has been the topic of several recent research reports. UBS Group set a $210.00 target price on shares of Electronic Arts and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Cowen cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Argus set a $210.00 target price on shares of Electronic Arts in a research report on Thursday, October 30th. Hsbc Global Res downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, DA Davidson lifted their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $181.64.

Electronic Arts Price Performance

Shares of EA opened at $201.92 on Thursday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a market cap of $50.36 billion, a PE ratio of 59.04, a PEG ratio of 3.04 and a beta of 0.74. The business has a 50-day simple moving average of $197.15 and a two-hundred day simple moving average of $171.67.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. Analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s dividend payout ratio is presently 22.22%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $201.79, for a total value of $504,475.00. Following the completion of the sale, the insider owned 53,092 shares in the company, valued at $10,713,434.68. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $200.55, for a total value of $1,002,750.00. Following the sale, the chief executive officer directly owned 42,393 shares of the company’s stock, valued at approximately $8,501,916.15. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 137,369 shares of company stock valued at $27,307,702 over the last three months. Corporate insiders own 0.24% of the company’s stock.

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.