New York State Teachers Retirement System trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,219 shares of the game software company's stock after selling 10,518 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Electronic Arts worth $32,511,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its stake in Electronic Arts by 51.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company's stock worth $160,893,000 after acquiring an additional 373,730 shares in the last quarter. abrdn plc lifted its position in shares of Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company's stock worth $123,484,000 after purchasing an additional 319,335 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company's stock valued at $45,626,000 after purchasing an additional 314,388 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Electronic Arts in the third quarter valued at approximately $40,154,000. Finally, Huntington National Bank increased its stake in Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company's stock worth $36,993,000 after buying an additional 234,098 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have commented on EA. BMO Capital Markets decreased their price target on shares of Electronic Arts from $145.00 to $142.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Oppenheimer decreased their target price on Electronic Arts from $170.00 to $165.00 and set an "outperform" rating for the company in a report on Tuesday, January 21st. Robert W. Baird cut their price target on Electronic Arts from $175.00 to $158.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and issued a $173.00 price objective on shares of Electronic Arts in a research note on Thursday, January 23rd. Finally, Argus upped their target price on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of "Hold" and an average price target of $154.55.
Read Our Latest Analysis on Electronic Arts
Insider Activity at Electronic Arts
In other news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the transaction, the insider now owns 30,216 shares in the company, valued at $4,969,021.20. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $130.83, for a total transaction of $327,075.00. Following the completion of the sale, the insider now owns 47,514 shares of the company's stock, valued at $6,216,256.62. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock worth $2,812,285 in the last three months. Insiders own 0.22% of the company's stock.
Electronic Arts Stock Performance
NASDAQ:EA traded up $0.99 during trading hours on Wednesday, reaching $129.34. 3,548,884 shares of the company's stock were exchanged, compared to its average volume of 4,225,773. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $33.71 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 3.54 and a beta of 0.79. The company has a 50-day moving average of $138.96 and a 200 day moving average of $146.57.
Electronic Arts (NASDAQ:EA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts anticipate that Electronic Arts Inc. will post 4.75 EPS for the current year.
Electronic Arts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, February 26th. Electronic Arts's dividend payout ratio is presently 19.34%.
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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