Foster & Motley Inc. Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Foster & Motley Inc. reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,274 shares of the game software company’s stock after selling 197 shares during the period. Foster & Motley Inc.’s holdings in Electronic Arts were worth $1,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC bought a new position in Electronic Arts during the 4th quarter valued at about $339,000. Private Advisor Group LLC lifted its position in Electronic Arts by 212.6% during the fourth quarter. Private Advisor Group LLC now owns 3,041 shares of the game software company’s stock valued at $416,000 after purchasing an additional 5,742 shares during the period. Lincoln National Corp boosted its holdings in Electronic Arts by 22.2% in the fourth quarter. Lincoln National Corp now owns 2,882 shares of the game software company’s stock worth $394,000 after purchasing an additional 523 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in Electronic Arts in the 4th quarter worth approximately $293,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Electronic Arts by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,366,885 shares of the game software company’s stock valued at $187,004,000 after buying an additional 26,493 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on 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 sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the transaction, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at $8,660,634.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. The disclosure for this sale can be found here. Insiders have sold a total of 27,070 shares of company stock worth $3,963,638 over the last quarter. Insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $145.91 on Friday. The business has a 50-day moving average price of $145.55 and a 200-day moving average price of $137.54. The firm has a market cap of $38.77 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The business 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Benchmark raised their price target on Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wedbush increased their price objective on shares of Electronic Arts from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Roth Mkm boosted their target price on shares of Electronic Arts from $135.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Raymond James upped their target price on shares of Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus price target 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.