Prestige Wealth Management Group LLC Raises Position in Electronic Arts Inc. (NASDAQ:EA)

Prestige Wealth Management Group LLC raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,691 shares of the game software company’s stock after buying an additional 257 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Electronic Arts were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EA. North Star Investment Management Corp. lifted its holdings in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts during the 2nd quarter valued at about $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Electronic Arts during the 1st quarter valued at about $30,000. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares in the company, valued at approximately $5,389,173.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,095,185. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,070 shares of company stock valued at $3,963,638. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 1.3 %

Shares of NASDAQ:EA traded down $1.90 during midday trading on Friday, reaching $144.01. The company’s stock had a trading volume of 1,785,738 shares, compared to its average volume of 2,109,870. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $145.65 and a 200-day moving average of $137.53. The firm has a market capitalization of $38.27 billion, a P/E ratio of 30.77, a PEG ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EA. Citigroup lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $148.00 to $161.00 in a report on Monday, July 15th. The Goldman Sachs Group upped their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. Roth Mkm increased their target price on Electronic Arts from $135.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.28.

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.