Retirement Systems of Alabama Trims Position in Electronic Arts Inc. (NASDAQ:EA)

Retirement Systems of Alabama decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 624,758 shares of the game software company's stock after selling 5,407 shares during the quarter. Retirement Systems of Alabama owned about 0.24% of Electronic Arts worth $89,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EA. Ashton Thomas Securities LLC bought a new stake in shares of Electronic Arts during the 3rd quarter valued at about $25,000. Family Firm Inc. bought a new position in shares of Electronic Arts during the 2nd quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $36,000. Gradient Investments LLC increased its stake in shares of Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company's stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Electronic Arts by 156.6% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company's stock valued at $39,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Stock Performance

Electronic Arts stock traded down $4.97 during mid-day trading on Friday, reaching $157.62. 2,807,531 shares of the company's stock were exchanged, compared to its average volume of 2,043,518. The business's fifty day simple moving average is $155.72 and its 200 day simple moving average is $147.22. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $168.50. The firm has a market capitalization of $41.34 billion, a PE ratio of 41.80, a P/E/G ratio of 2.14 and a beta of 0.79.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.48%. Electronic Arts's dividend payout ratio (DPR) is presently 19.54%.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the sale, the insider now owns 29,190 shares in the company, valued at $4,181,175.60. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $3,086,270. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on EA. Morgan Stanley reaffirmed an "equal weight" rating and issued a $150.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on Electronic Arts from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. UBS Group upped their target price on Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $170.00 target price on shares of Electronic Arts in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.37.

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.