Allianz Asset Management GmbH Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Allianz Asset Management GmbH decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 35.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,718 shares of the game software company's stock after selling 180,045 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.13% of Electronic Arts worth $48,084,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Electronic Arts by 5.2% during the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock worth $1,778,553,000 after buying an additional 605,796 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Electronic Arts by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company's stock worth $978,650,000 after buying an additional 30,929 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Electronic Arts by 6.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company's stock worth $648,169,000 after buying an additional 270,991 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Electronic Arts by 12.4% during the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock worth $476,540,000 after buying an additional 360,563 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Electronic Arts by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company's stock worth $472,362,000 after buying an additional 120,632 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Stock Performance

Shares of EA stock traded down $0.96 on Friday, hitting $151.68. 1,450,551 shares of the stock were exchanged, compared to its average volume of 2,278,458. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $38.11 billion, a PE ratio of 35.77, a P/E/G ratio of 2.06 and a beta of 0.73. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The firm's 50 day moving average is $151.04 and its two-hundred day moving average is $142.87.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.50%. Electronic Arts's dividend payout ratio is currently 17.92%.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the transaction, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 6,563 shares of Electronic Arts stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the sale, the chief executive officer owned 70,059 shares of the company's stock, valued at approximately $10,591,519.62. This trade represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock worth $4,822,884 in the last 90 days. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley boosted their price target on Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and boosted their price target for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. The Goldman Sachs Group boosted their price target on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, UBS Group boosted their price target on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.71.

Electronic Arts Company 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.