Lorne Steinberg Wealth Management Inc. Sells 350 Shares of Electronic Arts Inc. (NASDAQ:EA)

Lorne Steinberg Wealth Management Inc. reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,633 shares of the game software company’s stock after selling 350 shares during the quarter. Electronic Arts comprises about 2.0% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Electronic Arts were worth $5,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EA. Bray Capital Advisors boosted its stake in shares of Electronic Arts by 100.0% in the 3rd quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth $30,000. Venturi Wealth Management LLC lifted its stake in shares of Electronic Arts by 81.0% in the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. CVA Family Office LLC bought a new stake in Electronic Arts during the 4th quarter worth $38,000. Finally, MCF Advisors LLC increased its holdings in Electronic Arts by 36.9% in the 4th quarter. MCF Advisors LLC now owns 356 shares of the game software company’s stock worth $49,000 after purchasing an additional 96 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Benchmark restated a “buy” rating and set a $153.00 price target on shares of Electronic Arts in a report on Thursday, April 18th. Oppenheimer reaffirmed an “outperform” rating and set a $150.00 target price on shares of Electronic Arts in a research report on Tuesday. UBS Group reduced their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $162.00 price objective on shares of Electronic Arts in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus lifted their target price on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total transaction of $347,200.00. Following the completion of the sale, the chief executive officer now directly owns 30,930 shares of the company’s stock, valued at approximately $4,295,558.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Electronic Arts news, insider Jacob J. Schatz sold 1,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the completion of the transaction, the insider now owns 20,258 shares in the company, valued at $2,901,755.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $138.88, for a total value of $347,200.00. Following the transaction, the chief executive officer now directly owns 30,930 shares of the company’s stock, valued at approximately $4,295,558.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,144 shares of company stock worth $5,143,560. 0.20% of the stock is owned by company insiders.

Electronic Arts Stock Down 0.1 %

Electronic Arts stock traded down $0.08 during trading on Wednesday, hitting $127.06. 410,579 shares of the company were exchanged, compared to its average volume of 2,003,001. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $134.30 and its 200 day moving average is $134.57. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The company has a market capitalization of $33.97 billion, a P/E ratio of 32.03, a PEG ratio of 1.76 and a beta of 0.76.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, January 30th. The game software company reported $1.07 EPS 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 quarter in the prior year, the company earned $2.29 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Electronic Arts Inc. will post 5.36 earnings per share for the current year.

Electronic Arts Dividend Announcement

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

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.