New York State Common Retirement Fund Lowers Holdings in Electronic Arts Inc. $EA

New York State Common Retirement Fund cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,056 shares of the game software company’s stock after selling 400 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Electronic Arts worth $23,485,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EA. Vanguard Group Inc. lifted its stake in shares of Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock worth $4,198,607,000 after buying an additional 150,438 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Electronic Arts by 4.6% in the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock worth $695,645,000 after purchasing an additional 193,442 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Electronic Arts by 2.3% during the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock valued at $570,233,000 after purchasing an additional 88,767 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company’s stock valued at $539,563,000 after purchasing an additional 504,760 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock valued at $470,197,000 after buying an additional 1,254,194 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $201.06, for a total value of $502,650.00. Following the transaction, the insider owned 55,648 shares of the company’s stock, valued at approximately $11,188,586.88. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $201.05, for a total transaction of $1,005,250.00. Following the transaction, the chief executive officer directly owned 48,858 shares of the company’s stock, valued at $9,822,900.90. The trade was a 9.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 134,869 shares of company stock worth $26,878,477 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. HSBC downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a research report on Monday, September 29th. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Zacks Research cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. UBS Group set a $210.00 target price on Electronic Arts and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Finally, DA Davidson upped their price target on shares of Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.64.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $202.62 on Tuesday. The stock has a market cap of $50.68 billion, a PE ratio of 59.25, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $203.75. The firm has a fifty day moving average price of $198.88 and a 200-day moving average price of $172.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company posted $1.11 EPS. The company’s quarterly revenue was down 12.6% on a year-over-year basis. Equities analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 22.22%.

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.