Nicola Wealth Management LTD. Lowers Stake in Electronic Arts Inc. $EA

Nicola Wealth Management LTD. lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 136,900 shares of the game software company’s stock after selling 10,500 shares during the period. Electronic Arts accounts for 1.9% of Nicola Wealth Management LTD.’s portfolio, making the stock its 16th largest position. Nicola Wealth Management LTD.’s holdings in Electronic Arts were worth $19,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EA. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the 1st quarter valued at $28,000. Bank of Jackson Hole Trust lifted its stake in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Electronic Arts in the first quarter worth $39,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the first quarter worth $40,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EA. UBS Group set a $167.00 price target on shares of Electronic Arts and gave the stock a “neutral” rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Bank of America boosted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Arete raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 target price on the stock in a research note on Tuesday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Electronic Arts in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.12.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the transaction, the insider owned 58,092 shares in the company, valued at $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the transaction, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock worth $4,778,597 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $169.89 on Friday. The stock has a fifty day moving average of $162.64 and a 200 day moving average of $151.40. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90. The firm has a market capitalization of $42.51 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 2.20 and a beta of 0.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts’s payout ratio is presently 19.05%.

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.