Electronic Arts Inc. $EA Stock Position Lessened by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Electronic Arts Inc. by 5.9%, owning 34,078 shares valued at approximately $5.44 million after selling 2,145 shares in the second quarter.
• Institutional investors now hold 90.23% of Electronic Arts' stock, with notable increases from companies like Ameriprise Financial and ING Groep NV, which significantly boosted their stakes in the first quarter.
• Electronic Arts recently declared a quarterly dividend of $0.19 per share, translating to an annualized yield of 0.4%, with a payout ratio of 19.05%.

State of Alaska Department of Revenue decreased its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,078 shares of the game software company's stock after selling 2,145 shares during the quarter. State of Alaska Department of Revenue's holdings in Electronic Arts were worth $5,441,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of EA. Ameriprise Financial Inc. grew its position in Electronic Arts by 197.5% in 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 buying an additional 1,936,313 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Electronic Arts in the first quarter valued at approximately $225,102,000. Nuveen LLC bought a new position in shares of Electronic Arts in the first quarter valued at approximately $203,537,000. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 1,254,194 shares in the last quarter. Finally, ING Groep NV boosted its stake 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 valued at $168,185,000 after purchasing an additional 1,131,220 shares in the last quarter. Institutional investors own 90.23% of the company's stock.

Electronic Arts Trading Up 14.9%

Electronic Arts stock opened at $193.35 on Monday. The company has a 50 day moving average price of $167.67 and a 200 day moving average price of $154.67. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $197.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $48.38 billion, a price-to-earnings ratio of 48.46, a P/E/G ratio of 2.94 and a beta of 0.75.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were given a dividend of $0.19 per share. The ex-dividend date was 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 (DPR) is presently 19.05%.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total transaction of $171,060.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $172.79, for a total value of $863,950.00. Following the sale, the chief executive officer directly owned 47,393 shares of the company's stock, valued at approximately $8,189,036.47. The trade was a 9.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,800 shares of company stock worth $5,077,960. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group set a $167.00 target price on Electronic Arts and gave the company a "neutral" rating in a research note on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and issued a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective on the stock in a research note on Tuesday, August 5th. Finally, Arete Research set a $192.00 target price on shares of Electronic Arts in a 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 fourteen have given a Hold rating to the stock. According to MarketBeat, 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.

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