iA Global Asset Management Inc. reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,466 shares of the game software company's stock after selling 3,573 shares during the quarter. iA Global Asset Management Inc.'s holdings in Electronic Arts were worth $5,920,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in Electronic Arts by 165.7% during the fourth quarter. Teacher Retirement System of Texas now owns 417,817 shares of the game software company's stock worth $61,127,000 after buying an additional 260,567 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Electronic Arts by 6.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 116,824 shares of the game software company's stock worth $17,091,000 after acquiring an additional 6,706 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Electronic Arts by 63.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 19,923 shares of the game software company's stock worth $2,918,000 after acquiring an additional 7,753 shares in the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Electronic Arts by 41.1% in the fourth quarter. Vinva Investment Management Ltd now owns 151,313 shares of the game software company's stock valued at $22,173,000 after purchasing an additional 44,056 shares during the last quarter. Finally, West Tower Group LLC bought a new position in shares of Electronic Arts during the fourth quarter valued at about $585,000. 90.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on EA. Raymond James downgraded shares of Electronic Arts from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 23rd. StockNews.com downgraded Electronic Arts from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 5th. Citigroup cut their price objective on Electronic Arts from $163.00 to $139.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Wedbush reaffirmed an "outperform" rating and set a $173.00 target price on shares of Electronic Arts in a research report on Thursday, January 23rd. Finally, Bank of America lifted their target price on Electronic Arts from $130.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $155.65.
Read Our Latest Report on Electronic Arts
Electronic Arts Price Performance
NASDAQ EA traded down $0.05 on Tuesday, hitting $144.50. The stock had a trading volume of 2,382,008 shares, compared to its average volume of 2,409,465. The firm has a 50-day moving average of $132.81 and a 200-day moving average of $144.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The company has a market capitalization of $37.66 billion, a price-to-earnings ratio of 36.77, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.
Electronic Arts (NASDAQ:EA - Get Free Report) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Equities analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current year.
Electronic Arts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Electronic Arts's dividend payout ratio is currently 19.34%.
Insider Buying and Selling
In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the completion of the transaction, the executive vice president now owns 23,386 shares in the company, valued at $3,354,721.70. This trade represents a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $148.18, for a total transaction of $148,180.00. Following the completion of the transaction, the chief financial officer now directly owns 8,750 shares of the company's stock, valued at approximately $1,296,575. The trade was a 10.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,000 shares of company stock worth $3,166,740. 0.22% of the stock is owned by insiders.
About Electronic Arts
(
Free Report)
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.
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