Texas Permanent School Fund Corp Reduces Stock Holdings in Electronic Arts Inc. $EA

Texas Permanent School Fund Corp lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 32.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,307 shares of the game software company’s stock after selling 10,477 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Electronic Arts were worth $3,562,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Salomon & Ludwin LLC raised its holdings in shares of Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after buying an additional 68 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Electronic Arts in the 2nd quarter valued at $30,000. Frazier Financial Advisors LLC raised its stake in Electronic Arts by 328.9% in the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after acquiring an additional 148 shares during the last quarter. NewSquare Capital LLC raised its stake in Electronic Arts by 67.5% in the 2nd quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after acquiring an additional 79 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Electronic Arts during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.1%

Electronic Arts stock opened at $203.90 on Friday. The firm has a market cap of $51.00 billion, a PE ratio of 59.62, a P/E/G ratio of 2.44 and a beta of 0.76. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $204.64. The stock’s 50 day simple moving average is $201.63 and its two-hundred day simple moving average is $177.66. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25.

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

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is 22.22%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EA shares. TD Cowen lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. DZ Bank downgraded shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Zacks Research cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Morgan Stanley upped their price objective on shares of Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Finally, Robert W. Baird reissued a “neutral” rating and set a $210.00 target price (up previously from $170.00) on shares of Electronic Arts in a report on Monday, September 29th. Four investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $181.21.

Insider Buying and Selling at Electronic Arts

In other news, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the sale, the chief financial officer directly owned 5,595 shares in the company, valued at $1,128,231.75. This trade represents a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $204.11, for a total value of $510,275.00. Following the completion of the transaction, the insider directly owned 53,148 shares of the company’s stock, valued at $10,848,038.28. The trade was a 4.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 141,169 shares of company stock worth $28,242,586. 0.24% 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.