Cornercap Investment Counsel Inc. Sells 8,349 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cornercap Investment Counsel Inc. decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 44.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,590 shares of the game software company's stock after selling 8,349 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Electronic Arts were worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company's stock valued at $3,868,620,000 after buying an additional 3,727,251 shares during the period. Capital International Investors raised its position in Electronic Arts by 16.4% in the 1st quarter. Capital International Investors now owns 5,901,257 shares of the game software company's stock valued at $782,920,000 after purchasing an additional 833,492 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company's stock valued at $596,825,000 after purchasing an additional 53,237 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Electronic Arts by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company's stock worth $583,162,000 after purchasing an additional 18,376 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Electronic Arts by 2.1% during the second quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company's stock worth $367,789,000 after buying an additional 53,800 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $150.83, for a total transaction of $150,830.00. Following the completion of the sale, the insider now directly owns 28,190 shares in the company, valued at approximately $4,251,897.70. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares of the company's stock, valued at approximately $8,448,493.36. This represents a 4.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on EA. Benchmark restated a "buy" rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday, October 30th. TD Cowen increased their price target on Electronic Arts from $163.00 to $183.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Raymond James lifted their price target on Electronic Arts from $155.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Electronic Arts from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $165.37.

Electronic Arts Trading Down 1.7 %

Shares of Electronic Arts stock traded down $2.76 on Friday, hitting $161.36. The stock had a trading volume of 2,034,647 shares, compared to its average volume of 2,055,515. The firm has a market capitalization of $42.32 billion, a P/E ratio of 42.19, a PEG ratio of 2.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $164.42. The stock has a 50 day moving average of $146.83 and a 200 day moving average of $142.21.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.47%. Electronic Arts's dividend payout ratio (DPR) is 19.54%.

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.