Intech Investment Management LLC Reduces Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Intech Investment Management LLC lowered its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,205 shares of the game software company's stock after selling 4,264 shares during the period. Intech Investment Management LLC's holdings in Electronic Arts were worth $13,369,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Electronic Arts by 983.4% in the third quarter. Huntington National Bank now owns 257,902 shares of the game software company's stock worth $36,993,000 after acquiring an additional 234,098 shares during the period. Park Avenue Securities LLC lifted its position in shares of Electronic Arts by 34.9% during the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company's stock worth $1,982,000 after purchasing an additional 3,681 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in Electronic Arts during the 3rd quarter worth $5,597,000. Chesapeake Capital Corp IL acquired a new position in Electronic Arts in the third quarter valued at $950,000. Finally, Bessemer Group Inc. increased its stake in shares of Electronic Arts by 97.5% during the first quarter. Bessemer Group Inc. now owns 19,751 shares of the game software company's stock worth $2,620,000 after acquiring an additional 9,753 shares during the period. Institutional investors own 90.23% of the company's stock.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 7,384 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares of the company's stock, valued at approximately $8,758,819.05. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,384 shares of company stock worth $4,776,635. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Down 0.8 %

NASDAQ EA traded down $1.30 during trading hours on Friday, hitting $166.67. 1,638,033 shares of the company traded hands, compared to its average volume of 2,049,793. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The business's 50-day moving average is $149.36 and its 200-day moving average is $143.74. The stock has a market capitalization of $43.71 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 2.17 and a beta of 0.78. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $168.50.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.46%. Electronic Arts's dividend payout ratio is presently 19.54%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EA shares. Morgan Stanley restated an "equal weight" rating and issued a $150.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. BNP Paribas raised shares of Electronic Arts to a "strong-buy" rating in a research report on Wednesday, October 9th. Bank of America lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. UBS Group boosted their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price target 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. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts has a consensus rating of "Moderate Buy" and a consensus price target of $165.37.

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.