Intech Investment Management LLC Sells 42,022 Shares of Electronic Arts Inc. (NASDAQ:EA)

Intech Investment Management LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 30.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,469 shares of the game software company’s stock after selling 42,022 shares during the period. Intech Investment Management LLC’s holdings in Electronic Arts were worth $13,580,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of Electronic Arts by 79.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 12,479 shares of the game software company’s stock valued at $1,707,000 after purchasing an additional 5,525 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Electronic Arts by 4.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 39,723 shares of the game software company’s stock valued at $5,434,000 after purchasing an additional 1,553 shares during the period. Corient Private Wealth LLC raised its position in shares of Electronic Arts by 6.4% during the 4th quarter. Corient Private Wealth LLC now owns 67,939 shares of the game software company’s stock valued at $9,295,000 after purchasing an additional 4,112 shares during the period. TCW Group Inc. raised its position in shares of Electronic Arts by 14.3% during the 4th quarter. TCW Group Inc. now owns 17,507 shares of the game software company’s stock valued at $2,395,000 after purchasing an additional 2,193 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Electronic Arts by 4.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 78,231 shares of the game software company’s stock valued at $10,703,000 after purchasing an additional 3,561 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EA has been the topic of several recent analyst reports. Robert W. Baird restated an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Electronic Arts in a report on Thursday, July 11th. They issued a “buy” rating and a $165.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James lifted their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Benchmark reiterated a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the sale, the chief executive officer now owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the sale, the chief executive officer now owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the business’s 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 of the company’s stock, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,570 shares of company stock worth $4,183,508. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 0.8 %

Shares of NASDAQ:EA opened at $139.55 on Friday. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The business has a 50 day simple moving average of $146.27 and a two-hundred day simple moving average of $137.70. The firm has a market capitalization of $37.08 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts predict that Electronic Arts Inc. will post 5.89 EPS for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. Electronic Arts’s payout ratio is 16.24%.

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.