Doliver Advisors LP Trims Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Doliver Advisors LP reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 3,276 shares of the game software company’s stock after selling 136 shares during the quarter. Doliver Advisors LP’s holdings in Electronic Arts were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EA. Kestra Advisory Services LLC increased its position in Electronic Arts by 28.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,485 shares of the game software company’s stock valued at $1,383,000 after purchasing an additional 2,573 shares during the period. Envestnet Asset Management Inc. increased its position in Electronic Arts by 6.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 201,074 shares of the game software company’s stock valued at $24,209,000 after purchasing an additional 11,416 shares during the period. Dark Forest Capital Management LP purchased a new position in Electronic Arts during the 3rd quarter valued at $227,000. Stifel Financial Corp increased its position in Electronic Arts by 10.4% during the 3rd quarter. Stifel Financial Corp now owns 84,602 shares of the game software company’s stock valued at $10,191,000 after purchasing an additional 7,989 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Electronic Arts by 21.7% during the 3rd quarter. Federated Hermes Inc. now owns 48,566 shares of the game software company’s stock valued at $5,847,000 after buying an additional 8,674 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

EA traded up $2.17 during midday trading on Monday, hitting $141.23. 2,157,330 shares of the company traded hands, compared to its average volume of 2,147,431. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The firm has a market capitalization of $37.53 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.20 and a beta of 0.80. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average is $131.34 and its 200 day moving average is $134.80.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts expect that Electronic Arts Inc. will post 5.7 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, May 29th. Electronic Arts’s payout ratio is currently 16.24%.

Insider Activity

In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $132.82, for a total value of $106,256.00. Following the completion of the sale, the insider now directly owns 27,083 shares of the company’s stock, valued at approximately $3,597,164.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $132.82, for a total value of $106,256.00. Following the completion of the sale, the insider now directly owns 27,083 shares of the company’s stock, valued at approximately $3,597,164.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laura Miele sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $132.82, for a total transaction of $265,640.00. Following the sale, the chief operating officer now directly owns 34,772 shares of the company’s stock, valued at $4,618,417.04. The disclosure for this sale can be found here. Insiders sold 21,039 shares of company stock valued at $2,763,319 in the last quarter. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EA. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Oppenheimer restated an “outperform” rating and set a $150.00 target price on shares of Electronic Arts in a report on Friday. StockNews.com cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Roth Mkm dropped their target price on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Robert W. Baird dropped their price target on shares of Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

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.