SVB Wealth LLC Sells 13,061 Shares of Electronic Arts Inc. (NASDAQ:EA)

SVB Wealth LLC trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 42,442 shares of the game software company’s stock after selling 13,061 shares during the quarter. SVB Wealth LLC’s holdings in Electronic Arts were worth $5,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth $26,000. DHJJ Financial Advisors Ltd. acquired a new position in Electronic Arts in the third quarter valued at $26,000. Bray Capital Advisors lifted its holdings in Electronic Arts by 100.0% in the third quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock valued at $26,000 after buying an additional 110 shares during the period. Venturi Wealth Management LLC increased its stake in Electronic Arts by 81.0% in the fourth quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in Electronic Arts in the second quarter valued at $32,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Trading Down 0.4 %

EA stock opened at $126.55 on Wednesday. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $144.53. The stock has a market capitalization of $33.83 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25. The firm’s fifty day simple moving average is $135.49 and its two-hundred day simple moving average is $134.37.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.38). Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Electronic Arts Inc. will post 5.36 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Tuesday, February 27th. Electronic Arts’s dividend payout ratio is currently 19.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group decreased their target price on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, March 27th. Stifel Nicolaus boosted their target price on shares of Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. BMO Capital Markets began coverage on shares of Electronic Arts in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In other Electronic Arts news, COO Laura Miele sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $132.82, for a total transaction of $265,640.00. Following the completion of the transaction, the chief operating officer now directly owns 34,772 shares of the company’s stock, valued at approximately $4,618,417.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Electronic Arts news, insider Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the sale, the insider now owns 20,258 shares of the company’s stock, valued at approximately $2,901,755.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Laura Miele sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $132.82, for a total transaction of $265,640.00. Following the transaction, the chief operating officer now directly owns 34,772 shares in the company, valued at approximately $4,618,417.04. The disclosure for this sale can be found here. Insiders sold 36,144 shares of company stock worth $5,015,350 in the last three months. Corporate insiders own 0.20% of the company’s stock.

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.