Prudential PLC Trims Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Prudential PLC has reduced its holdings in Electronic Arts by 42.8%, owning 49,838 shares valued at approximately $7.2 million after selling 37,329 shares in the first quarter.
• Insider Vijayanthimala Singh sold 1,000 shares, and CEO Andrew Wilson sold 5,000 shares, both of which represent significant decreases in their positions.
• Electronic Arts has a market cap of $44.51 billion and recently declared a quarterly dividend of $0.19, reflecting a yield of 0.4%.

Prudential PLC decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 42.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,838 shares of the game software company's stock after selling 37,329 shares during the quarter. Prudential PLC's holdings in Electronic Arts were worth $7,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EA. Putney Financial Group LLC purchased a new position in shares of Electronic Arts during the 4th quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 1st quarter valued at $28,000. Bank of Jackson Hole Trust lifted its stake in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at $33,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Electronic Arts during the 1st quarter valued at $39,000. Institutional investors own 90.23% of the company's stock.

Analyst Ratings Changes

EA has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Bank of America lifted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Benchmark lifted their target price on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Wednesday, May 7th. Finally, Robert W. Baird boosted their target price on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Insider Transactions at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the completion of the sale, the executive vice president owned 28,448 shares of the company's stock, valued at $4,219,407.36. This represents a 5.01% 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 stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the sale, the chief financial officer directly owned 14,533 shares of the company's stock, valued at $2,199,133.56. The trade was a 6.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,229 shares of company stock worth $4,452,664. Insiders own 0.24% of the company's stock.

Electronic Arts Stock Down 2.4%

Electronic Arts stock traded down $4.34 during midday trading on Friday, hitting $174.67. 3,428,521 shares of the company's stock were exchanged, compared to its average volume of 3,528,556. 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 company has a market cap of $43.70 billion, a PE ratio of 43.78, a P/E/G ratio of 2.30 and a beta of 0.72. The firm has a 50-day moving average of $155.63 and a two-hundred day moving average of $145.44. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $180.90.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. 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.