Crestwood Advisors Group LLC Sells 976 Shares of Electronic Arts Inc. $EA

Crestwood Advisors Group LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,989 shares of the game software company’s stock after selling 976 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Electronic Arts were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norden Group LLC purchased a new position in Electronic Arts during the 2nd quarter valued at $214,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Electronic Arts by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock valued at $6,467,000 after buying an additional 10,453 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in shares of Electronic Arts during the first quarter valued at about $319,000. Vest Financial LLC raised its stake in Electronic Arts by 5.7% in the second quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock worth $44,408,000 after buying an additional 15,032 shares in the last quarter. Finally, Alta Advisers Ltd purchased a new stake in Electronic Arts in the second quarter worth about $205,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $200.38 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $188.45 and a 200-day moving average price of $166.40. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $203.75. The firm has a market capitalization of $49.98 billion, a PE ratio of 58.59, a P/E/G ratio of 3.04 and a beta of 0.74.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, December 3rd. Electronic Arts’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group downgraded Electronic Arts from a “buy” rating to a “hold” rating and upped their target price for the stock from $200.00 to $210.00 in a report on Tuesday, September 30th. Wall Street Zen downgraded Electronic Arts from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Roth Capital lowered Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. Citigroup upped their target price on shares of Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the company an “equal weight” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $181.64.

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $201.79, for a total transaction of $504,475.00. Following the completion of the sale, the insider owned 53,092 shares in the company, valued at approximately $10,713,434.68. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $200.31, for a total value of $240,372.00. Following the completion of the transaction, the insider directly owned 32,331 shares in the company, valued at approximately $6,476,222.61. This represents a 3.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,400 shares of company stock valued at $7,359,462 over the last ninety days. 0.24% of the stock is owned by insiders.

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.