Martingale Asset Management L P Sells 59,233 Shares of Electronic Arts Inc. $EA

Key Points

• Martingale Asset Management reduced its holdings in Electronic Arts Inc. by 29.5%, selling 59,233 shares during the first quarter, and now holds approximately 0.05% of the company valued at $20.48 million.
• The company recently announced a quarterly dividend of $0.19 per share, and the dividend yield is 0.4%, with a payout ratio of 19.05%.
• Several analysts have upgraded their price targets for Electronic Arts, with a consensus rating of "Moderate Buy" and an average price target of $167.12 per share.

Martingale Asset Management L P lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 29.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,731 shares of the game software company's stock after selling 59,233 shares during the quarter. Martingale Asset Management L P owned about 0.05% of Electronic Arts worth $20,483,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Electronic Arts by 0.5% in 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 buying an additional 150,438 shares during the last quarter. Invesco Ltd. raised its position in 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 in the last quarter. Northern Trust Corp lifted its stake in Electronic Arts by 12.4% during the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock worth $476,540,000 after purchasing an additional 360,563 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Electronic Arts by 62.7% in 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Electronic Arts by 5.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,663,957 shares of the game software company's stock valued at $389,737,000 after purchasing an additional 132,703 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total value of $855,250.00. Following the sale, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. The trade was a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total transaction of $171,060.00. Following the completion of the transaction, the chief financial officer owned 15,140 shares of the company's stock, valued at $2,589,848.40. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,200 shares of company stock worth $4,142,660. Insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EA. Arete Research set a $192.00 target price on Electronic Arts in a research report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and set a $153.00 price target (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. JPMorgan Chase & Co. upped their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target for the company in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Electronic Arts Trading Down 0.1%

Shares of EA stock traded down $0.15 during mid-day trading on Friday, reaching $171.40. The stock had a trading volume of 1,707,305 shares, compared to its average volume of 3,402,479. The firm has a market capitalization of $42.89 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72. The stock's 50-day moving average price is $158.41 and its two-hundred day moving average price is $147.70. 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 52-week low of $115.21 and a 52-week high of $180.90.

Electronic Arts Announces Dividend

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

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.