Corient Private Wealth LLC Sells 4,147 Shares of Electronic Arts Inc. $EA

Corient Private Wealth LLC trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA) by 10.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 36,243 shares of the game software company’s stock after selling 4,147 shares during the quarter. Corient Private Wealth LLC’s holdings in Electronic Arts were worth $5,788,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC lifted its holdings in Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after buying an additional 68 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Electronic Arts during the second quarter worth $30,000. Frazier Financial Advisors LLC boosted its stake in shares of Electronic Arts by 328.9% in the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of Electronic Arts by 67.5% during the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after buying an additional 79 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Electronic Arts in the second quarter valued at approximately $37,000. 90.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. DZ Bank downgraded Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Benchmark restated a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Cowen cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $181.21.

Electronic Arts Price Performance

NASDAQ EA opened at $203.92 on Friday. The firm’s 50 day moving average is $201.71 and its 200-day moving average is $178.28. 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 company has a market capitalization of $51.00 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $204.64.

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

Electronic Arts Dividend Announcement

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

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $204.11, for a total transaction of $244,932.00. Following the transaction, the insider owned 33,560 shares in the company, valued at $6,849,931.60. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $204.11, for a total transaction of $510,275.00. Following the completion of the transaction, the insider directly owned 53,148 shares in the company, valued at $10,848,038.28. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,169 shares of company stock worth $28,242,586 in the last quarter. 0.24% of the stock is owned by corporate insiders.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.