SouthState Corp Sells 380 Shares of Electronic Arts Inc. (NASDAQ:EA)

SouthState Corp lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,171 shares of the game software company’s stock after selling 380 shares during the quarter. SouthState Corp’s holdings in Electronic Arts were worth $464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in Electronic Arts by 31.8% during the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after acquiring an additional 70 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of Electronic Arts by 3.4% during the 4th quarter. Claro Advisors LLC now owns 2,285 shares of the game software company’s stock valued at $334,000 after purchasing an additional 75 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of Electronic Arts by 5.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after purchasing an additional 76 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Electronic Arts by 11.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company’s stock worth $119,000 after buying an additional 81 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in Electronic Arts by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company’s stock valued at $550,000 after buying an additional 82 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EA. BNP Paribas downgraded Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Monday, January 27th. Citigroup lowered their target price on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Bank of America upped their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. DA Davidson started coverage on shares of Electronic Arts in a research note on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price objective for the company. Finally, Ascendiant Capital Markets upped their target price on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $154.78.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $130.14, for a total value of $650,700.00. Following the transaction, the chief executive officer now owns 37,615 shares in the company, valued at approximately $4,895,216.10. This trade represents a 11.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total transaction of $147,570.00. Following the sale, the insider now directly owns 29,216 shares of the company’s stock, valued at $4,311,405.12. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,000 shares of company stock valued at $3,194,240. 0.22% of the stock is owned by company insiders.

Electronic Arts Stock Up 3.0 %

EA opened at $142.90 on Tuesday. The company has a fifty day moving average of $132.81 and a two-hundred day moving average of $144.80. The stock has a market capitalization of $37.24 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38.

Electronic Arts (NASDAQ:EA) last announced its quarterly 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, research analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is 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.