Gulf International Bank UK Ltd Sells 5,216 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Electronic Arts Inc. by 26.9%, holding 14,146 shares worth approximately $2.04 million after selling 5,216 shares in Q1.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, reflecting an annual yield of 0.4% and a payout ratio of 19.05%.
• Analyst ratings for Electronic Arts show a consensus of "Moderate Buy" with the average target price set at $167.12, indicating positive outlook among several research firms.

Gulf International Bank UK Ltd cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,146 shares of the game software company's stock after selling 5,216 shares during the quarter. Gulf International Bank UK Ltd's holdings in Electronic Arts were worth $2,044,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in Electronic Arts during the first quarter worth $203,537,000. Goldman Sachs Group Inc. raised its stake in Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after acquiring an additional 1,254,194 shares in the last quarter. ING Groep NV raised its stake in Electronic Arts by 3,477.8% during the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock worth $168,185,000 after acquiring an additional 1,131,220 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Electronic Arts by 689.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after acquiring an additional 1,081,589 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Electronic Arts by 1,366.6% during the first quarter. Pacer Advisors Inc. now owns 1,118,685 shares of the game software company's stock worth $161,672,000 after acquiring an additional 1,042,407 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the sale, the chief financial officer owned 14,533 shares in the company, valued at approximately $2,199,133.56. The trade was a 6.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,229 shares of company stock worth $4,452,664 over the last three months. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Price Performance

Shares of Electronic Arts stock traded down $4.34 during trading on Friday, reaching $174.67. 3,428,521 shares of the company's stock were exchanged, compared to its average volume of 3,477,202. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The company has a market cap of $43.70 billion, a P/E ratio of 43.78, a PEG ratio of 2.25 and a beta of 0.72. The firm's 50-day moving average price is $156.13 and its 200 day moving average price is $146.04.

Electronic Arts Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on EA shares. Argus set a $170.00 target price on Electronic Arts in a report on Friday, May 16th. Oppenheimer increased their target price on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. DA Davidson increased their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. TD Cowen increased their target price on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of "Moderate Buy" and a consensus target price of $167.12.

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.