Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund trimmed its holdings in Electronic Arts Inc. (NASDAQ:EAGet Rating) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,477 shares of the game software company’s stock after selling 2,530 shares during the period. Texas Permanent School Fund’s holdings in Electronic Arts were worth $4,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AIA Group Ltd boosted its stake in Electronic Arts by 99.1% in the 1st quarter. AIA Group Ltd now owns 695 shares of the game software company’s stock worth $88,000 after buying an additional 346 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Electronic Arts by 10.8% in the 1st quarter. CIBC Asset Management Inc now owns 64,031 shares of the game software company’s stock valued at $8,101,000 after purchasing an additional 6,234 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in shares of Electronic Arts by 555.7% in the 1st quarter. IndexIQ Advisors LLC now owns 31,178 shares of the game software company’s stock valued at $3,945,000 after purchasing an additional 26,423 shares in the last quarter. Independent Advisor Alliance lifted its stake in shares of Electronic Arts by 4.6% in the 1st quarter. Independent Advisor Alliance now owns 4,695 shares of the game software company’s stock valued at $594,000 after purchasing an additional 208 shares in the last quarter. Finally, GAM Holding AG lifted its stake in shares of Electronic Arts by 17.6% in the 1st quarter. GAM Holding AG now owns 60,286 shares of the game software company’s stock valued at $7,627,000 after purchasing an additional 9,012 shares in the last quarter. 89.28% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $132.56 on Friday. Electronic Arts Inc. has a twelve month low of $109.24 and a twelve month high of $147.76. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $37.06 billion, a price-to-earnings ratio of 41.95, a price-to-earnings-growth ratio of 4.11 and a beta of 0.84. The business has a 50 day simple moving average of $129.68 and a 200-day simple moving average of $128.33.

Electronic Arts (NASDAQ:EAGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The game software company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.22). Electronic Arts had a net margin of 12.43% and a return on equity of 17.86%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $0.72 earnings per share. Electronic Arts’s revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts expect that Electronic Arts Inc. will post 5.45 earnings per share for the current year.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.57%. Electronic Arts’s dividend payout ratio is currently 24.05%.

Insider Activity at Electronic Arts

In related news, insider Chris Bruzzo sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $128.39, for a total transaction of $256,780.00. Following the completion of the transaction, the insider now owns 27,524 shares in the company, valued at approximately $3,533,806.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Electronic Arts news, insider Chris Bruzzo sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $128.39, for a total transaction of $256,780.00. Following the completion of the transaction, the insider now owns 27,524 shares in the company, valued at approximately $3,533,806.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laura Miele sold 1,500 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $130.77, for a total value of $196,155.00. Following the transaction, the chief operating officer now owns 33,700 shares of the company’s stock, valued at approximately $4,406,949. The disclosure for this sale can be found here. Insiders sold 58,895 shares of company stock worth $7,692,454 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EA shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Electronic Arts from $170.00 to $165.00 in a research note on Wednesday, May 11th. Cowen reduced their price objective on Electronic Arts from $180.00 to $158.00 in a research note on Wednesday, May 11th. Barclays lifted their price objective on Electronic Arts from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Ascendiant Capital Markets set a $160.00 target price on Electronic Arts in a report on Monday, June 20th. Finally, Stifel Nicolaus dropped their target price on Electronic Arts from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, July 25th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.13.

Electronic Arts Profile

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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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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