Burney Co. Sells 20,166 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Burney Co. significantly reduced its stake in Electronic Arts Inc. by 93.5%, selling 20,166 shares and leaving it with only 1,406 shares valued at $203,000.
• Institutional investors collectively own 90.23% of Electronic Arts, with notable increases in holdings from Assenagon Asset Management and GAMMA Investing LLC.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, reflecting a 0.50% yield and a payout ratio of 17.92%.

Burney Co. decreased its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 93.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,406 shares of the game software company's stock after selling 20,166 shares during the period. Burney Co.'s holdings in Electronic Arts were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in shares of Electronic Arts by 689.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after purchasing an additional 1,081,589 shares during the last quarter. FMR LLC lifted its stake in Electronic Arts by 224.8% in the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after purchasing an additional 835,985 shares during the last quarter. Royal Bank of Canada grew its holdings in Electronic Arts by 130.0% during the fourth quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock worth $175,758,000 after purchasing an additional 679,032 shares during the period. GAMMA Investing LLC increased its position in Electronic Arts by 11,587.9% during the first quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after buying an additional 663,640 shares during the last quarter. Finally, Norges Bank bought a new stake in Electronic Arts in the fourth quarter valued at approximately $96,698,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the completion of the transaction, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the completion of the transaction, the insider owned 60,592 shares of the company's stock, valued at $9,664,424. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,729 shares of company stock valued at $4,822,884. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $151.68 on Friday. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50 day simple moving average is $151.04 and its 200 day simple moving average is $142.87.

Electronic Arts Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on EA shares. Moffett Nathanson reiterated a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. TD Cowen raised their price target on Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Argus set a $170.00 target price on shares of Electronic Arts in a report on Friday, May 16th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $162.71.

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.

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