Summit Global Investments Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Summit Global Investments lessened its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,728 shares of the game software company's stock after selling 1,985 shares during the period. Summit Global Investments' holdings in Electronic Arts were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EA. Pinnacle Bancorp Inc. raised its holdings in shares of Electronic Arts by 141.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company's stock valued at $29,000 after acquiring an additional 117 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Electronic Arts during the 4th quarter valued at $32,000. SBI Securities Co. Ltd. bought a new position in Electronic Arts in the 4th quarter worth $41,000. Larson Financial Group LLC lifted its position in shares of Electronic Arts by 31.8% in the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company's stock worth $42,000 after purchasing an additional 70 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Electronic Arts during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Activity

In other news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total value of $713,400.00. Following the transaction, the chief executive officer now directly owns 42,615 shares in the company, valued at $6,080,308.20. The trade was a 10.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the transaction, the insider now directly owns 29,216 shares of the company's stock, valued at approximately $4,311,405.12. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock valued at $3,018,560 in the last ninety days. Corporate insiders own 0.22% of the company's stock.

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Electronic Arts Stock Performance

NASDAQ EA traded up $0.11 during trading hours on Thursday, hitting $145.30. 2,332,965 shares of the company's stock traded hands, compared to its average volume of 2,407,783. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The firm has a market capitalization of $37.87 billion, a P/E ratio of 36.97, a P/E/G ratio of 3.58 and a beta of 0.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The business's fifty day moving average price is $132.92 and its two-hundred day moving average price is $144.62.

Electronic Arts (NASDAQ:EA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. Equities research analysts predict that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, February 26th. Electronic Arts's dividend payout ratio (DPR) is currently 19.34%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James lowered shares of Electronic Arts from an "outperform" rating to a "market perform" rating in a report on Thursday, January 23rd. Robert W. Baird lowered their target price on Electronic Arts from $175.00 to $158.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets dropped their target price on shares of Electronic Arts from $145.00 to $142.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. DA Davidson initiated coverage on shares of Electronic Arts in a research note on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 price target for the company. Finally, BNP Paribas downgraded shares of Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 target price for the company. in a research note on Monday, January 27th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of "Hold" and an average price target of $155.65.

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.