Electronic Arts Inc. $EA Shares Sold by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA reduced its stake in Electronic Arts Inc. by 2.5%, now holding 57,662 shares valued at approximately $9.2 million.
• Insider selling was noted, with CEO Andrew Wilson selling 5,000 shares at an average price of $171.05, representing a 8.71% decrease in his position.
• Electronic Arts announced a quarterly dividend of $0.19 per share, resulting in an annualized yield of 0.4%, with the ex-dividend date set for August 27th.

Jacobs & Co. CA lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,662 shares of the game software company's stock after selling 1,455 shares during the quarter. Jacobs & Co. CA's holdings in Electronic Arts were worth $9,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EA. Ameriprise Financial Inc. increased its stake in shares of Electronic Arts by 197.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after acquiring an additional 1,936,313 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Electronic Arts during the 1st quarter valued at about $225,102,000. Nuveen LLC acquired a new position in shares of Electronic Arts during the 1st quarter valued at about $203,537,000. Goldman Sachs Group Inc. increased its position in Electronic Arts by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after purchasing an additional 1,254,194 shares in the last quarter. Finally, ING Groep NV increased its position in Electronic Arts by 3,477.8% during the 1st quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock worth $168,185,000 after purchasing an additional 1,131,220 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EA. Argus set a $170.00 target price on shares of Electronic Arts in a research report on Friday, May 16th. DA Davidson increased their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Wedbush reissued an "outperform" rating and set a $210.00 target price on shares of Electronic Arts in a research report on Monday, August 25th. Citigroup reissued a "neutral" rating and set a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Finally, Arete Research set a $192.00 target price on shares of Electronic Arts in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Stock Up 1.5%

NASDAQ EA opened at $172.38 on Friday. The stock has a market cap of $43.13 billion, a PE ratio of 43.20, a P/E/G ratio of 2.19 and a beta of 0.75. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The business has a 50 day moving average price of $162.98 and a two-hundred day moving average price of $151.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be 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 is Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the transaction, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. This represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total value of $206,712.00. Following the completion of the transaction, the insider owned 35,931 shares of the company's stock, valued at approximately $6,189,474.06. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock worth $4,778,597 in the last 90 days. 0.24% of the stock is owned by insiders.

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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