Providence Capital Advisors LLC Buys 800 Shares of Electronic Arts Inc. (NASDAQ:EA)

Providence Capital Advisors LLC boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,115 shares of the game software company’s stock after acquiring an additional 800 shares during the period. Providence Capital Advisors LLC’s holdings in Electronic Arts were worth $6,328,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EA. Manning & Napier Advisors LLC purchased a new position in Electronic Arts during the 2nd quarter worth $188,159,000. D. E. Shaw & Co. Inc. increased its holdings in Electronic Arts by 43.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after acquiring an additional 420,382 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Electronic Arts by 214.8% during the second quarter. National Bank of Canada FI now owns 533,548 shares of the game software company’s stock worth $73,264,000 after acquiring an additional 364,044 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Electronic Arts by 29.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock worth $215,725,000 after purchasing an additional 354,005 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock worth $123,484,000 after buying an additional 319,335 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the transaction, the insider now owns 30,190 shares of the company’s stock, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $3,073,520 over the last three months. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 1.2 %

Shares of NASDAQ EA opened at $163.10 on Thursday. The firm has a fifty day simple moving average of $150.16 and a two-hundred day simple moving average of $144.50. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $42.78 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78.

Electronic Arts Dividend Announcement

The business also recently declared 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 yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. 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 note on Wednesday, October 30th. UBS Group raised their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, Raymond James boosted their target price on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Company 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.