Burgundy Asset Management Ltd. Decreases Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Burgundy Asset Management trimmed its stake in Electronic Arts by 1.7% in Q3, selling 17,083 shares and now owns 973,374 shares (~0.39% of EA) worth about $196.3 million, making EA its 18th-largest holding (about 1.9% of the fund).
• Electronic Arts announced a quarterly dividend of $0.19 per share (annualized $0.76) payable March 18 to holders of record on February 25, representing a yield of roughly 0.4%.
• Analysts have a consensus rating of Hold on EA with a consensus target price of $188.30 (three Buys, nineteen Holds, one Sell), and some firms have recently trimmed price targets.

Burgundy Asset Management Ltd. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 973,374 shares of the game software company's stock after selling 17,083 shares during the period. Electronic Arts accounts for about 1.9% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 18th largest holding. Burgundy Asset Management Ltd. owned approximately 0.39% of Electronic Arts worth $196,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after acquiring an additional 294 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Electronic Arts by 167.0% in the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company's stock valued at $2,790,000 after purchasing an additional 12,076 shares during the period. Geneos Wealth Management Inc. raised its stake in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after purchasing an additional 190 shares during the period. Bank of Montreal Can raised its stake in Electronic Arts by 14.3% during the second quarter. Bank of Montreal Can now owns 326,682 shares of the game software company's stock worth $52,171,000 after purchasing an additional 40,848 shares during the period. Finally, NewSquare Capital LLC boosted its holdings in Electronic Arts by 67.5% in the 2nd quarter. NewSquare Capital LLC now owns 196 shares of the game software company's stock valued at $31,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Up 0.3%

Shares of NASDAQ EA opened at $201.73 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $50.48 billion, a PE ratio of 75.84, a PEG ratio of 2.39 and a beta of 0.75. The stock has a fifty day simple moving average of $202.63 and a 200-day simple moving average of $195.71. Electronic Arts Inc. has a twelve month low of $131.15 and a twelve month high of $204.88.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, February 25th. Electronic Arts's dividend payout ratio is presently 28.57%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $199.53, for a total transaction of $498,825.00. Following the sale, the insider owned 48,343 shares of the company's stock, valued at approximately $9,645,878.79. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $200.63, for a total value of $240,756.00. Following the completion of the sale, the insider owned 31,160 shares in the company, valued at approximately $6,251,630.80. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,600 shares of company stock valued at $5,589,823 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on EA shares. Citigroup reduced their price target on shares of Electronic Arts from $207.00 to $202.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 4th. UBS Group restated a "neutral" rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Finally, Zacks Research cut Electronic Arts from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $188.30.

Electronic Arts Company Profile

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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