iA Global Asset Management Inc. Sells 11,778 Shares of Electronic Arts Inc. (NASDAQ:EA)
iA Global Asset Management Inc. has reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 29.1%, selling 11,778 shares in the first quarter, leaving it with 28,688 shares valued at $4.15 million. Other institutional investors have also adjusted their positions in EA. The stock opened at $160.99, with a market cap of $40.28 billion and a P/E ratio of 40.35. Electronic Arts recently announced a quarterly dividend of $0.19 per share, with a yield of 0.5%. Analysts have mixed ratings on the stock, with an average target price of $166.35.
iA Global Asset Management Inc. decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,688 shares of the game software company's stock after selling 11,778 shares during the period. iA Global Asset Management Inc.'s holdings in Electronic Arts were worth $4,146,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also made changes to their positions in EA. Putney Financial Group LLC bought a new stake in shares of Electronic Arts during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the first quarter worth approximately $28,000. Bank of Jackson Hole Trust boosted its holdings in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter worth approximately $33,000. Finally, Wayfinding Financial LLC purchased a new stake in Electronic Arts in the first quarter worth approximately $39,000. Institutional investors own 90.23% of the company's stock.
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Electronic Arts Price Performance
Electronic Arts stock opened at $160.99 on Wednesday. The firm has a 50-day moving average of $151.96 and a two-hundred day moving average of $143.51. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.95.
Electronic Arts Announces Dividend
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on EA shares. Bank of America lifted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Arete Research set a $192.00 price target on shares of Electronic Arts in a research note on Tuesday. Oppenheimer lifted their price target on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. TD Cowen lifted their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Argus set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, May 16th. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $166.35.
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View Our Latest Analysis on Electronic Arts
Insider Activity at Electronic Arts
In other news, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the sale, the insider directly owned 37,131 shares of the company's stock, valued at $5,923,508.43. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,229 shares of company stock worth $5,066,049 in the last 90 days. 0.24% of the stock is owned by insiders.
Electronic Arts Company Profile
(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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