KBC Group NV Lowers Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

KBC Group NV cut its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,854 shares of the game software company's stock after selling 5,703 shares during the period. KBC Group NV's holdings in Electronic Arts were worth $11,167,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company's stock valued at $333,169,000 after acquiring an additional 2,090,504 shares during the period. Swedbank AB acquired a new position in Electronic Arts in the 1st quarter valued at approximately $201,935,000. Jericho Capital Asset Management L.P. acquired a new position in Electronic Arts in the 1st quarter valued at approximately $189,055,000. Finally, Manning & Napier Advisors LLC acquired a new position in Electronic Arts in the 2nd quarter valued at approximately $188,159,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Shares of EA stock traded down $2.76 on Friday, reaching $161.36. The company's stock had a trading volume of 2,036,594 shares, compared to its average volume of 1,966,724. The stock's fifty day simple moving average is $147.17 and its 200-day simple moving average is $142.55. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $164.42. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Electronic Arts Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on EA. Bank of America upped their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company 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 stock a "buy" rating in a research note on Wednesday, July 31st. DZ Bank raised shares of Electronic Arts from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. BMO Capital Markets reissued an "outperform" rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, BNP Paribas raised shares of Electronic Arts to a "strong-buy" rating in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.37.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,260 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $148.37, for a total value of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares in the company, valued at $1,120,638.61. The trade was a 14.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock worth $3,886,282 over the last three months. 0.22% of the stock is owned by corporate insiders.

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.