HighTower Advisors LLC Has $4.39 Million Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

HighTower Advisors LLC cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,692 shares of the game software company’s stock after selling 2,765 shares during the period. HighTower Advisors LLC’s holdings in Electronic Arts were worth $4,387,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EA. Huntington National Bank increased its stake in Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after acquiring an additional 234,098 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Electronic Arts during the 3rd quarter worth $5,597,000. Dai ichi Life Insurance Company Ltd increased its position in shares of Electronic Arts by 20.8% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after purchasing an additional 11,058 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Electronic Arts in the third quarter worth $950,000. Finally, Assenagon Asset Management S.A. raised its stake in Electronic Arts by 206.4% in the second quarter. Assenagon Asset Management S.A. now owns 81,679 shares of the game software company’s stock valued at $11,380,000 after purchasing an additional 55,020 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of 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 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $3,086,270 over the last ninety days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a report on Friday, October 25th. StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Morgan Stanley restated an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Argus lifted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Stock Down 0.2 %

Shares of NASDAQ:EA opened at $165.30 on Wednesday. The firm has a market cap of $43.35 billion, a P/E ratio of 42.49, a P/E/G ratio of 2.18 and a beta of 0.79. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $168.50. The business has a fifty day simple moving average of $154.87 and a 200 day simple moving average of $147.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

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.