Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 909,556 shares of the game software company’s stock after selling 57,044 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.33% of Electronic Arts worth $109,556,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Resurgent Financial Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at approximately $26,000. Neo Ivy Capital Management raised its position in shares of Electronic Arts by 70.1% during the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock valued at $31,000 after acquiring an additional 108 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at approximately $33,000. Compass Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at approximately $33,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Electronic Arts by 128.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 293 shares of the game software company’s stock valued at $37,000 after acquiring an additional 165 shares in the last quarter. 88.65% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Wedbush upped their price target on Electronic Arts from $139.00 to $144.00 in a research report on Wednesday, May 10th. Robert W. Baird upped their price target on Electronic Arts from $125.00 to $145.00 in a research report on Wednesday, May 10th. Stifel Nicolaus upped their price target on Electronic Arts from $141.00 to $144.00 in a research report on Wednesday, May 10th. Deutsche Bank Aktiengesellschaft upped their price target on Electronic Arts from $125.00 to $135.00 in a research report on Tuesday, May 16th. Finally, Wells Fargo & Company increased their target price on Electronic Arts from $135.00 to $145.00 in a research report on Wednesday, May 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.59.
Electronic Arts Price Performance
Electronic Arts (NASDAQ:EA – Get Free Report) last announced its earnings results on Tuesday, May 9th. The game software company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($1.35). Electronic Arts had a net margin of 10.80% and a return on equity of 16.42%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Electronic Arts Inc. will post 4.99 EPS for the current year.
Electronic Arts Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.76 annualized dividend and a yield of 0.55%. Electronic Arts’s dividend payout ratio is currently 26.48%.
Insider Activity at Electronic Arts
In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $124.91, for a total value of $624,550.00. Following the completion of the transaction, the chief executive officer now owns 82,809 shares in the company, valued at approximately $10,343,672.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Eric Charles Kelly sold 2,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $125.19, for a total value of $250,380.00. Following the completion of the transaction, the chief accounting officer now owns 6,112 shares in the company, valued at approximately $765,161.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $124.91, for a total value of $624,550.00. Following the completion of the transaction, the chief executive officer now owns 82,809 shares of the company’s stock, valued at approximately $10,343,672.19. The disclosure for this sale can be found here. Insiders sold 34,699 shares of company stock valued at $4,385,667 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
Electronic Arts 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.
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