Electronic Arts Inc. $EA Shares Sold by Cullinan Associates Inc.

Key Points

• Cullinan Associates Inc. has reduced its stake in Electronic Arts Inc. by 1.6%, now holding approximately 106,392 shares valued at $16.99 million.
• Recent institutional activity shows Vanguard Group, Goldman Sachs, and others have increased their positions, with Goldman Sachs boosting its stake by 62.7%.
• Electronic Arts announced a quarterly dividend of $0.19, representing an annualized yield of 0.4% with a payout ratio of 19.05%.

Cullinan Associates Inc. lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 106,392 shares of the game software company's stock after selling 1,742 shares during the period. Electronic Arts makes up approximately 1.1% of Cullinan Associates Inc.'s investment portfolio, making the stock its 23rd largest position. Cullinan Associates Inc.'s holdings in Electronic Arts were worth $16,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock worth $4,198,607,000 after acquiring an additional 150,438 shares in the last quarter. Ninety One UK Ltd increased its stake in Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company's stock worth $695,645,000 after purchasing an additional 193,442 shares during the period. Independent Franchise Partners LLP increased its stake in 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 worth $570,233,000 after purchasing an additional 88,767 shares during the period. Invesco Ltd. lifted its position 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 worth $539,563,000 after purchasing an additional 504,760 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Electronic Arts by 62.7% in 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 period. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Stock Down 0.2%

Shares of NASDAQ EA opened at $200.69 on Monday. The business has a 50-day moving average of $172.45 and a two-hundred day moving average of $156.76. The company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 3.03 and a beta of 0.77. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $203.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Dividend Announcement

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

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the transaction, the chief financial officer directly owned 5,140 shares of the company's stock, valued at $1,045,476. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president owned 28,448 shares in the company, valued at $4,219,407.36. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,000 shares of company stock valued at $7,247,635. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EA. UBS Group set a $210.00 target price on shares of Electronic Arts and gave the stock a "neutral" rating in a research note on Tuesday, September 30th. Baird R W lowered Electronic Arts from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Cowen cut Electronic Arts from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Argus upped their price target on Electronic Arts from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $177.00.

About Electronic Arts

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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