Grove Bank & Trust Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Grove Bank & Trust reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 34.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 325 shares of the game software company’s stock after selling 169 shares during the quarter. Grove Bank & Trust’s holdings in Electronic Arts were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. North Star Investment Management Corp. boosted its stake in Electronic Arts by 333.3% in the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Electronic Arts in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts in the second quarter valued at approximately $28,000. Family Firm Inc. bought a new position in Electronic Arts during the second quarter valued at $33,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Electronic Arts in the first quarter worth $35,000. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was 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 in the company, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the transaction, the executive vice president now directly owns 27,860 shares in the company, valued at approximately $4,160,055.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,270 shares of company stock worth $3,426,705 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $146.42 on Wednesday. Electronic Arts Inc. has a 12-month low of $119.92 and a 12-month high of $153.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $38.91 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.79. The stock has a 50-day moving average price of $145.26 and a 200-day moving average price of $138.86.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. As a group, equities analysts forecast that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EA shares. TD Cowen upped their price target on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Oppenheimer increased their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Bank of America boosted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Raymond James raised their price objective on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

About Electronic Arts

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.