Patten & Patten Inc. TN Has $893,000 Holdings in Electronic Arts Inc. (NASDAQ:EA)

Patten & Patten Inc. TN cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,730 shares of the game software company’s stock after selling 95 shares during the period. Patten & Patten Inc. TN’s holdings in Electronic Arts were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FORA Capital LLC grew its stake in shares of Electronic Arts by 209.7% in the first quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock valued at $6,101,000 after buying an additional 31,136 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Electronic Arts by 82.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock worth $3,327,000 after purchasing an additional 11,343 shares in the last quarter. Duality Advisers LP bought a new position in shares of Electronic Arts during the first quarter worth approximately $1,711,000. Eaton Financial Holdings Company LLC acquired a new stake in shares of Electronic Arts in the fourth quarter valued at approximately $1,259,000. Finally, Value Partners Investments Inc. increased its stake in Electronic Arts by 33.5% during the 4th quarter. Value Partners Investments Inc. now owns 429,536 shares of the game software company’s stock worth $53,761,000 after acquiring an additional 107,709 shares during the period. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock traded up $3.05 during mid-day trading on Monday, hitting $143.25. The company had a trading volume of 2,890,829 shares, compared to its average volume of 2,134,803. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $38.07 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $148.22. The stock’s fifty day moving average price is $136.98 and its two-hundred day moving average price is $135.35.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, analysts forecast that Electronic Arts Inc. will post 5.72 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total value of $622,321.85. Following the sale, the chief executive officer now directly owns 66,747 shares of the company’s stock, valued at $8,954,110.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Wilson sold 4,639 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $134.15, for a total transaction of $622,321.85. Following the sale, the chief executive officer now owns 66,747 shares in the company, valued at $8,954,110.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the completion of the transaction, the insider now owns 26,283 shares of the company’s stock, valued at $3,328,479.12. The disclosure for this sale can be found here. Insiders have sold 26,039 shares of company stock valued at $3,517,006 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group cut their price target on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Jefferies Financial Group began coverage on shares of Electronic Arts in a research report on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price on the stock. Roth Mkm reduced their price objective on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Finally, Robert W. Baird cut their price objective on Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.33.

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.