Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its position in Electronic Arts Inc. (NASDAQ:EA) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,632 shares of the game software company’s stock after purchasing an additional 306 shares during the period. Arizona State Retirement System’s holdings in Electronic Arts were worth $10,259,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Capital International Investors grew its stake in shares of Electronic Arts by 16.4% in the first quarter. Capital International Investors now owns 5,901,257 shares of the game software company’s stock valued at $782,920,000 after buying an additional 833,492 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Electronic Arts by 1.3% during the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company’s stock valued at $596,825,000 after buying an additional 53,237 shares during the period. FIL Ltd lifted its position in Electronic Arts by 4.4% during the 4th quarter. FIL Ltd now owns 3,428,193 shares of the game software company’s stock worth $469,011,000 after acquiring an additional 145,466 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on EA. Stifel Nicolaus boosted their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a research report on Tuesday, July 30th. Jefferies Financial Group initiated coverage on Electronic Arts in a research report on Thursday, July 11th. They set a “buy” rating and a $165.00 target price on the stock. Robert W. Baird increased their price target on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, UBS Group lifted their price objective on Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.28.

Electronic Arts Stock Down 1.3 %

Shares of Electronic Arts stock opened at $144.01 on Friday. The stock has a market capitalization of $38.27 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $145.65 and its 200-day simple moving average is $137.53.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $141.01, for a total transaction of $211,515.00. Following the completion of the transaction, the chief financial officer now directly owns 10,553 shares of the company’s stock, valued at approximately $1,488,078.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $141.01, for a total transaction of $211,515.00. Following the completion of the transaction, the chief financial officer now owns 10,553 shares in the company, valued at approximately $1,488,078.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the transaction, the chief executive officer now directly owns 61,747 shares in the company, valued at $8,660,634.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,070 shares of company stock valued at $3,963,638. 0.22% of the stock is currently owned by company insiders.

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.