Livforsakringsbolaget Skandia Omsesidigt Buys 23,400 Shares of Electronic Arts Inc. $EA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Electronic Arts by 52.0% in Q2, acquiring an additional 23,400 shares, bringing its total to 68,363 shares valued at approximately $10.9 million.
• Insiders, including CEO Andrew Wilson, sold a total of 25,800 shares of Electronic Arts stock over the last quarter, reflecting a trend of insider selling.
• Electronic Arts declared a quarterly dividend of $0.19 per share, representing an annualized dividend of $0.76 and a yield of 0.4%.

Livforsakringsbolaget Skandia Omsesidigt boosted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 52.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,363 shares of the game software company's stock after buying an additional 23,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Electronic Arts were worth $10,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after buying an additional 150,438 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Electronic Arts by 2.3% during the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock valued at $570,233,000 after purchasing an additional 88,767 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock valued at $539,563,000 after purchasing an additional 504,760 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after purchasing an additional 1,254,194 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Electronic Arts by 197.5% during the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after purchasing an additional 1,936,313 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $152.21, for a total value of $761,050.00. Following the transaction, the chief executive officer directly owned 57,393 shares of the company's stock, valued at approximately $8,735,788.53. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,800 shares of company stock valued at $5,077,960. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Up 0.4%

NASDAQ:EA traded up $0.76 during trading hours on Tuesday, hitting $174.18. 673,200 shares of the stock traded hands, compared to its average volume of 3,386,915. The firm has a 50 day moving average price of $165.57 and a 200 day moving average price of $153.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The firm has a market cap of $43.58 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.63 and a beta of 0.75.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio is 19.05%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reaffirmed a "neutral" rating and set a $153.00 target price (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Bank of America upped their target price on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Robert W. Baird upped their target price on Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $168.00 target price on Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, UBS Group set a $167.00 target price on Electronic Arts and gave the company a "neutral" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and an average target price of $167.40.

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.