Leith Wheeler Investment Counsel Ltd. Has $14.15 Million Stock Position in Electronic Arts Inc. $EA

Leith Wheeler Investment Counsel Ltd. trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 73.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,776 shares of the game software company’s stock after selling 226,120 shares during the quarter. Electronic Arts makes up 0.8% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 28th biggest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Electronic Arts were worth $14,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts in the first quarter worth about $28,000. Bank of Jackson Hole Trust boosted its holdings in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the last quarter. ORG Partners LLC boosted its holdings in Electronic Arts by 47.6% during the second quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock worth $40,000 after buying an additional 81 shares during the last quarter. Wayfinding Financial LLC bought a new position in Electronic Arts during the first quarter worth about $39,000. Finally, Costello Asset Management INC bought a new position in Electronic Arts during the first quarter worth about $40,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EA. Baird R W cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. BMO Capital Markets raised their target price on Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a report on Tuesday, September 30th. DZ Bank cut Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Finally, Cowen cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and an average target price of $177.00.

Electronic Arts Trading Down 0.0%

NASDAQ:EA opened at $200.01 on Monday. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $50.05 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. The business’s 50-day simple moving average is $177.15 and its 200-day simple moving average is $158.70.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were paid a $0.19 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is presently 19.05%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the sale, the executive vice president owned 26,080 shares in the company, valued at approximately $4,473,241.60. The trade was a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $172.79, for a total value of $863,950.00. Following the completion of the sale, the chief executive officer owned 47,393 shares in the company, valued at $8,189,036.47. The trade was a 9.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,000 shares of company stock worth $7,247,635. Corporate insiders own 0.24% 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.