Concurrent Investment Advisors LLC Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Concurrent Investment Advisors LLC cut its position in Electronic Arts Inc. (NASDAQ:EA) by 9.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,611 shares of the game software company’s stock after selling 175 shares during the period. Concurrent Investment Advisors LLC’s holdings in Electronic Arts were worth $231,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the 2nd quarter valued at about $28,000. Family Firm Inc. purchased a new stake in Electronic Arts in the second quarter worth approximately $33,000. New Covenant Trust Company N.A. bought a new stake in Electronic Arts in the 1st quarter worth approximately $35,000. Reston Wealth Management LLC purchased a new stake in Electronic Arts during the 3rd quarter valued at $36,000. Finally, Gradient Investments LLC lifted its holdings in shares of Electronic Arts by 592.1% during the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after buying an additional 225 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now directly owns 54,247 shares of the company’s stock, valued at $7,675,950.50. The trade was a 0.00 % 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, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,144 shares of company stock worth $3,886,282 in the last ninety days. 0.22% of the stock is owned by company insiders.

Electronic Arts Trading Up 0.9 %

Shares of EA opened at $159.39 on Tuesday. The company’s fifty day simple moving average is $145.82 and its 200-day simple moving average is $141.66. The company has a market cap of $41.80 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.06 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $160.31.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

Analyst Ratings Changes

EA has been the topic of several recent research reports. Argus increased their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Roth Mkm boosted their price target on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.37.

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.