Employees Retirement System of Texas Has $148,000 Position in Electronic Arts Inc. (NASDAQ:EA)

Employees Retirement System of Texas lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 86.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,014 shares of the game software company's stock after selling 6,360 shares during the period. Employees Retirement System of Texas' holdings in Electronic Arts were worth $148,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EA. Jefferies Financial Group Inc. purchased a new position in shares of Electronic Arts during the 4th quarter worth $636,000. Ascent Group LLC increased its stake in Electronic Arts by 13.1% in the fourth quarter. Ascent Group LLC now owns 18,228 shares of the game software company's stock valued at $2,667,000 after purchasing an additional 2,107 shares during the last quarter. Putney Financial Group LLC purchased a new position in Electronic Arts during the fourth quarter worth about $26,000. Mackenzie Financial Corp boosted its stake in Electronic Arts by 24.2% in the 4th quarter. Mackenzie Financial Corp now owns 142,282 shares of the game software company's stock worth $20,816,000 after buying an additional 27,680 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in Electronic Arts by 17.3% in the 4th quarter. Forum Financial Management LP now owns 2,895 shares of the game software company's stock valued at $424,000 after buying an additional 427 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on EA. Citigroup reissued a "neutral" rating and set a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. TD Cowen lifted their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. DA Davidson began coverage on shares of Electronic Arts in a research report on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 price objective for the company. Finally, HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts has a consensus rating of "Hold" and an average price target of $161.88.

Electronic Arts Stock Up 0.3%

EA traded up $0.38 during trading on Friday, hitting $143.22. The company had a trading volume of 5,543,682 shares, compared to its average volume of 2,746,403. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $35.91 billion, a PE ratio of 36.44, a P/E/G ratio of 3.58 and a beta of 0.74. The business has a 50-day moving average of $145.68 and a 200-day moving average of $144.60.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the sale, the chief executive officer now directly owns 32,615 shares of the company's stock, valued at $4,647,637.50. This trade represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the sale, the insider now owns 26,216 shares in the company, valued at approximately $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,729 shares of company stock worth $4,107,664. 0.22% of the stock is currently owned by corporate insiders.

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.