Cullinan Associates Inc. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 22.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,134 shares of the game software company's stock after selling 30,809 shares during the quarter. Electronic Arts makes up about 1.1% of Cullinan Associates Inc.'s investment portfolio, making the stock its 23rd largest holding. Cullinan Associates Inc.'s holdings in Electronic Arts were worth $15,627,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in shares of Electronic Arts in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the 1st quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the 4th quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts during the 4th quarter worth approximately $33,000. Finally, Millstone Evans Group LLC purchased a new position in Electronic Arts during the fourth quarter valued at approximately $37,000. 90.23% of the stock is owned by hedge funds and other institutional investors.
Electronic Arts Trading Down 0.1%
NASDAQ EA traded down $0.13 on Wednesday, hitting $157.82. 2,239,129 shares of the stock were exchanged, compared to its average volume of 2,793,645. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The firm has a market capitalization of $39.58 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.17 and a beta of 0.71. The stock has a fifty day moving average price of $148.62 and a two-hundred day moving average price of $142.50.
Electronic Arts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were issued a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.48%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.
Wall Street Analysts Forecast Growth
EA has been the subject of a number of analyst reports. Oppenheimer increased their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Robert W. Baird set a $168.00 price target on Electronic Arts in a report on Wednesday, May 7th. Argus set a $170.00 price objective on Electronic Arts in a research report on Friday, May 16th. Ascendiant Capital Markets increased their target price on Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts has a consensus rating of "Moderate Buy" and a consensus target price of $162.80.
Get Our Latest Report on Electronic Arts
Insider Buying and Selling
In other news, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $148.69, for a total value of $223,035.00. Following the transaction, the executive vice president now directly owns 29,948 shares in the company, valued at approximately $4,452,968.12. This represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $150.64, for a total transaction of $753,200.00. Following the completion of the transaction, the chief executive officer now directly owns 62,393 shares in the company, valued at $9,398,881.52. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,229 shares of company stock valued at $4,371,399. Company insiders own 0.22% of the company's stock.
About Electronic Arts
(
Free Report)
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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