Pensionfund Sabic Reduces Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Pensionfund Sabic cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 9.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,700 shares of the game software company’s stock after selling 1,000 shares during the period. Pensionfund Sabic’s holdings in Electronic Arts were worth $1,287,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EA. Vanguard Group Inc. lifted its holdings in Electronic Arts by 16.3% in the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock valued at $3,086,621,000 after acquiring an additional 3,600,388 shares during the last quarter. Norges Bank acquired a new position in Electronic Arts during the fourth quarter worth $281,054,000. DNB Asset Management AS lifted its stake in Electronic Arts by 82.3% during the fourth quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock worth $322,494,000 after purchasing an additional 1,064,022 shares in the last quarter. Schroder Investment Management Group lifted its stake in Electronic Arts by 350.6% during the fourth quarter. Schroder Investment Management Group now owns 752,026 shares of the game software company’s stock worth $102,885,000 after purchasing an additional 585,123 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Electronic Arts by 13.0% during the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock worth $408,084,000 after purchasing an additional 389,063 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total transaction of $401,250.00. Following the transaction, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at $997,507.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $130.66, for a total transaction of $326,650.00. Following the completion of the sale, the chief executive officer now owns 25,930 shares in the company, valued at $3,388,013.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Eric Charles Kelly sold 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total transaction of $401,250.00. Following the sale, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,539 shares of company stock valued at $3,089,969. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets decreased their price target on Electronic Arts from $160.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Wedbush restated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, May 8th. Robert W. Baird decreased their price target on Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Benchmark restated a “buy” rating and set a $153.00 price target on shares of Electronic Arts in a research note on Thursday, April 18th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Electronic Arts Stock Performance

NASDAQ:EA opened at $138.13 on Thursday. The firm has a market capitalization of $36.71 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.20 and a beta of 0.80. The business’s fifty day moving average price is $130.77 and its 200 day moving average price is $134.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.37. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $144.53.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations 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 anticipate that Electronic Arts Inc. will post 5.7 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, May 29th. Electronic Arts’s payout ratio is 16.24%.

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.