Electronic Arts Inc. (EA) Position Lowered by ProVise Management Group LLC

ProVise Management Group LLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,765 shares of the game software company’s stock after selling 884 shares during the period. ProVise Management Group LLC’s holdings in Electronic Arts were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EA. Bank of New York Mellon Corp boosted its position in Electronic Arts by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 4,203,946 shares of the game software company’s stock worth $496,317,000 after purchasing an additional 25,397 shares during the last quarter. American Century Companies Inc. boosted its position in Electronic Arts by 6.3% in the fourth quarter. American Century Companies Inc. now owns 2,883,283 shares of the game software company’s stock worth $302,918,000 after purchasing an additional 171,179 shares during the last quarter. Wells Fargo & Company MN boosted its position in Electronic Arts by 16.7% in the third quarter. Wells Fargo & Company MN now owns 1,886,592 shares of the game software company’s stock worth $222,730,000 after purchasing an additional 269,834 shares during the last quarter. Nordea Investment Management AB boosted its position in Electronic Arts by 2.9% in the third quarter. Nordea Investment Management AB now owns 1,618,094 shares of the game software company’s stock worth $191,032,000 after purchasing an additional 45,446 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Electronic Arts by 49.6% in the third quarter. Point72 Asset Management L.P. now owns 1,570,034 shares of the game software company’s stock worth $185,358,000 after purchasing an additional 520,560 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Shares of Electronic Arts Inc. (EA) opened at $123.77 on Thursday. The stock has a market capitalization of $37,506.70, a P/E ratio of 38.68, a P/E/G ratio of 2.22 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $85.23 and a 12 month high of $131.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.92 and a current ratio of 1.92.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, January 30th. The game software company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.02 billion. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. equities analysts forecast that Electronic Arts Inc. will post 3.66 earnings per share for the current fiscal year.

In related news, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $108.28, for a total transaction of $108,280.00. Following the sale, the senior vice president now owns 19,950 shares of the company’s stock, valued at approximately $2,160,186. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Bruzzo sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $105.80, for a total value of $158,700.00. Following the sale, the executive vice president now directly owns 38,562 shares in the company, valued at approximately $4,079,859.60. The disclosure for this sale can be found here. Insiders have sold a total of 67,158 shares of company stock worth $7,546,309 in the last three months. 2.55% of the stock is owned by corporate insiders.

Several research analysts have issued reports on EA shares. Goldman Sachs Group cut Electronic Arts from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. BMO Capital Markets dropped their target price on Electronic Arts from $100.00 to $97.00 and set a “market perform” rating on the stock in a research report on Thursday, November 2nd. KeyCorp reissued a “buy” rating and issued a $134.00 target price on shares of Electronic Arts in a research report on Sunday, November 19th. Buckingham Research set a $143.00 price objective on Electronic Arts and gave the company a “buy” rating in a research report on Sunday, November 19th. Finally, Vetr cut Electronic Arts from a “strong-buy” rating to a “buy” rating and set a $121.82 price objective on the stock. in a research report on Wednesday, November 29th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Electronic Arts presently has a consensus rating of “Buy” and an average price target of $130.34.

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Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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