RIA Advisory Group LLC Invests $349,000 in Electronic Arts Inc. (NASDAQ:EA)

RIA Advisory Group LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,433 shares of the game software company’s stock, valued at approximately $349,000.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Electronic Arts during the third quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter worth about $28,000. Family Firm Inc. purchased a new stake in Electronic Arts during the 2nd quarter valued at about $33,000. Reston Wealth Management LLC purchased a new position in Electronic Arts in the 3rd quarter worth approximately $36,000. Finally, Gradient Investments LLC boosted its stake in shares of Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after purchasing an additional 225 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Trading Down 1.7 %

Shares of NASDAQ:EA traded down $2.76 during mid-day trading on Friday, reaching $161.36. 2,036,594 shares of the company’s stock were exchanged, compared to its average volume of 2,055,523. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $164.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The business’s fifty day moving average price is $147.17 and its 200-day moving average price is $142.44. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.13 and a beta of 0.78.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus upped their target price on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Argus raised their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of Electronic Arts in a report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the sale, the insider now directly owns 50,433 shares in the company, valued at approximately $7,969,926.99. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,144 shares of company stock valued at $3,886,282 in the last three months. 0.22% of the stock is currently owned by insiders.

Electronic Arts Company 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.