LMR Partners LLP Lowers Stock Position in Electronic Arts Inc. (NASDAQ:EA)

LMR Partners LLP cut its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 68.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,069 shares of the game software company's stock after selling 17,885 shares during the period. LMR Partners LLP's holdings in Electronic Arts were worth $1,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Electronic Arts by 496.9% during 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 buying an additional 2,090,504 shares in the last quarter. Swedbank AB purchased a new position in shares of Electronic Arts in the first quarter worth $201,935,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Electronic Arts during the first quarter worth about $189,055,000. Manning & Napier Advisors LLC bought a new stake in Electronic Arts in the second quarter valued at $188,159,000. Finally, Capital International Investors grew its holdings in shares of Electronic Arts by 16.4% during the 1st quarter. Capital International Investors now owns 5,901,257 shares of the game software company's stock worth $782,920,000 after acquiring an additional 833,492 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew Wilson sold 2,500 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares in the company, valued at approximately $8,448,493.36. This trade represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares of the company's stock, valued at $4,675,692.90. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,384 shares of company stock valued at $3,944,285. Company insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

EA has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Electronic Arts from $165.00 to $167.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Electronic Arts from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Roth Mkm upped their price target on shares of Electronic Arts from $154.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $170.00 price target on shares of Electronic Arts in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and an average target price of $165.37.

Electronic Arts Stock Up 0.3 %

EA traded up $0.58 during trading on Wednesday, hitting $166.71. The stock had a trading volume of 2,056,346 shares, compared to its average volume of 2,055,460. The stock has a 50 day simple moving average of $148.01 and a two-hundred day simple moving average of $143.16. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $167.51. The company has a market capitalization of $43.72 billion, a PE ratio of 42.71, a PEG ratio of 2.11 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.46%. Electronic Arts's dividend payout ratio is currently 19.54%.

About Electronic Arts

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.