KBC Group NV Sells 6,975 Shares of Electronic Arts Inc. (NASDAQ:EA)

KBC Group NV trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 9.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 67,073 shares of the game software company's stock after selling 6,975 shares during the quarter. KBC Group NV's holdings in Electronic Arts were worth $9,693,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EA. Putney Financial Group LLC purchased a new position in Electronic Arts in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts in the 1st quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts in the fourth quarter worth approximately $33,000. Millstone Evans Group LLC bought a new stake in Electronic Arts during the fourth quarter valued at approximately $37,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts during the first quarter valued at approximately $40,000. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EA. Oppenheimer upped their price objective on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. The Goldman Sachs Group lifted their price objective on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a report on Wednesday, May 7th. Finally, UBS Group raised their price objective on shares of Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $162.80.

Electronic Arts Trading Down 1.0%

EA stock traded down $1.56 during trading on Thursday, hitting $155.47. The company had a trading volume of 573,893 shares, compared to its average volume of 2,803,921. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The company has a 50 day simple moving average of $150.29 and a 200-day simple moving average of $142.44. The firm has a market capitalization of $39.07 billion, a P/E ratio of 36.67, a PEG ratio of 2.16 and a beta of 0.73. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio is presently 17.92%.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total value of $218,475.00. Following the completion of the sale, the executive vice president directly owned 19,033 shares in the company, valued at $2,772,156.45. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the sale, the chief financial officer owned 14,533 shares of the company's stock, valued at approximately $2,199,133.56. This represents a 6.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,229 shares of company stock worth $4,226,399 over the last three months. Corporate insiders own 0.22% of the company's stock.

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.