Jennison Associates LLC Has $780,000 Position in Electronic Arts Inc. (NASDAQ:EA)

Jennison Associates LLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EAFree Report) by 7.2% in the first quarter, Holdings Channel reports. The institutional investor owned 5,882 shares of the game software company’s stock after selling 457 shares during the quarter. Jennison Associates LLC’s holdings in Electronic Arts were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. North Star Investment Management Corp. raised its stake in shares of Electronic Arts by 333.3% in the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in shares of Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter valued at $27,000. Leith Wheeler Investment Counsel Ltd. grew its position in Electronic Arts by 269.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock valued at $29,000 after acquiring an additional 154,989 shares during the period. Finally, Larson Financial Group LLC bought a new stake in Electronic Arts in the fourth quarter valued at $30,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Up 0.7 %

NASDAQ:EA opened at $140.58 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $37.36 billion, a PE ratio of 30.04, a PEG ratio of 2.23 and a beta of 0.79. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $144.53. The stock has a 50-day simple moving average of $134.30 and a 200 day simple moving average of $134.88.

Electronic Arts (NASDAQ:EAGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.78 billion. Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. On average, sell-side analysts expect that Electronic Arts Inc. will post 5.68 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. Electronic Arts’s dividend payout ratio is 16.24%.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the transaction, the insider now directly owns 38,574 shares in the company, valued at approximately $5,389,173.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $128.21, for a total transaction of $128,210.00. Following the completion of the transaction, the insider now directly owns 18,426 shares in the company, valued at approximately $2,362,397.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Insiders sold a total of 23,039 shares of company stock worth $3,065,356 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on EA. UBS Group lowered their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Oppenheimer restated an “outperform” rating and set a $150.00 target price on shares of Electronic Arts in a report on Friday, June 21st. Wedbush restated an “outperform” rating and set a $162.00 target price on shares of Electronic Arts in a report on Wednesday, May 8th. Finally, Robert W. Baird decreased their target price on Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

Get Our Latest Stock Analysis on EA

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.

Recommended Stories

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EAFree Report).

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

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.