Electronic Arts Inc. $EA Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. cut its Electronic Arts stake by 67.2% in the first quarter, selling 9,976 shares and leaving it with 4,868 shares valued at about $992,000.
• EA shares opened at $209.08, giving the company a market cap of about $52.43 billion. The stock is near its 52-week high of $209.34 and trades at a P/E ratio of 59.91.
• Electronic Arts paid a quarterly dividend of $0.19 per share, or $0.76 annualized, for a yield of about 0.4%. Meanwhile, analysts currently have a consensus rating of Hold with a price target of $196.64.

Assetmark Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 67.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,868 shares of the game software company's stock after selling 9,976 shares during the period. Assetmark Inc.'s holdings in Electronic Arts were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Optas LLC boosted its holdings in Electronic Arts by 4.2% in the 1st quarter. Optas LLC now owns 1,332 shares of the game software company's stock valued at $272,000 after purchasing an additional 54 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock worth $47,000 after acquiring an additional 57 shares during the period. Macroview Investment Management LLC grew its holdings in Electronic Arts by 6.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company's stock worth $218,000 after acquiring an additional 62 shares during the period. Candriam S.C.A. raised its position in Electronic Arts by 0.3% in the first quarter. Candriam S.C.A. now owns 24,685 shares of the game software company's stock worth $5,033,000 after acquiring an additional 65 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Electronic Arts by 8.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company's stock worth $190,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Up 0.0%

Shares of EA stock opened at $209.08 on Friday. The stock has a market cap of $52.43 billion, a P/E ratio of 59.91, a P/E/G ratio of 2.34 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a fifty-two week low of $146.97 and a fifty-two week high of $209.34. The business has a fifty day simple moving average of $204.25 and a 200-day simple moving average of $202.80.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts's dividend payout ratio (DPR) is 21.78%.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer owned 25,991 shares in the company, valued at approximately $5,233,547.76. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,206 shares of company stock worth $6,292,058 in the last three months. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Citigroup increased their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research cut shares of Electronic Arts from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Argus downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a "hold" rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Electronic Arts has a consensus rating of "Hold" and a consensus price target of $196.64.

About Electronic Arts

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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