Hoey Investments Inc. Decreases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Hoey Investments Inc. lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 453 shares of the game software company’s stock after selling 78 shares during the quarter. Hoey Investments Inc.’s holdings in Electronic Arts were worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its holdings in Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after buying an additional 117 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts in the fourth quarter worth $32,000. Millstone Evans Group LLC bought a new position in shares of Electronic Arts in the fourth quarter worth $37,000. SBI Securities Co. Ltd. purchased a new position in shares of Electronic Arts in the fourth quarter valued at $41,000. Finally, OFI Invest Asset Management bought a new stake in shares of Electronic Arts during the 4th quarter valued at $42,000. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In related news, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $130.11, for a total value of $130,110.00. Following the sale, the chief financial officer now owns 9,516 shares in the company, valued at $1,238,126.76. The trade was a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the transaction, the chief executive officer now owns 42,615 shares of the company’s stock, valued at $6,080,308.20. This trade represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $3,018,560 in the last quarter. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of a number of recent analyst reports. BNP Paribas lowered Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Monday, January 27th. Oppenheimer reduced their price objective on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, January 21st. Citigroup decreased their target price on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. DA Davidson started coverage on shares of Electronic Arts in a research report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price target for the company. Finally, Raymond James cut shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Hold” and an average target price of $155.65.

Electronic Arts Stock Performance

NASDAQ EA opened at $144.25 on Monday. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 3.58 and a beta of 0.78. The company has a 50-day simple moving average of $133.05 and a two-hundred day simple moving average of $144.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. On average, equities analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s dividend payout ratio is currently 19.34%.

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.