Ethic Inc. Sells 1,991 Shares of Electronic Arts Inc. $EA

Key Points

• Ethic Inc. has reduced its stake in Electronic Arts by 5.4%, selling 1,991 shares and now owning 35,047 shares valued at approximately $5.1 million.
• Several large investors, including Nomura Holdings Inc. and Wealth Enhancement Advisory Services LLC, have increased their positions in Electronic Arts, indicating strong institutional interest.
• Electronic Arts recently declared a quarterly dividend of $0.19 per share, with an annualized yield of 0.4%, to be paid on September 17th.

Ethic Inc. trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,047 shares of the game software company's stock after selling 1,991 shares during the quarter. Ethic Inc.'s holdings in Electronic Arts were worth $5,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Electronic Arts by 0.5% during the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock worth $4,198,607,000 after purchasing an additional 150,438 shares during the period. Invesco Ltd. boosted its position in Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock worth $539,563,000 after purchasing an additional 504,760 shares during the period. Northern Trust Corp boosted its position in Electronic Arts by 12.4% during the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock worth $476,540,000 after purchasing an additional 360,563 shares during the period. Goldman Sachs Group Inc. boosted its position 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 purchasing an additional 1,254,194 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Electronic Arts by 5.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,663,957 shares of the game software company's stock worth $389,737,000 after purchasing an additional 132,703 shares during the period. 90.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EA. Argus set a $170.00 target price on Electronic Arts in a report on Friday, May 16th. DA Davidson lifted 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. Moffett Nathanson reissued a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a report on Wednesday, May 7th. Arete Research set a $192.00 target price on Electronic Arts in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their target price on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the completion of the sale, the insider directly owned 37,131 shares in the company, valued at $5,923,508.43. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $174.65, for a total transaction of $209,580.00. Following the transaction, the executive vice president directly owned 27,248 shares in the company, valued at $4,758,863.20. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,200 shares of company stock valued at $3,116,350. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Performance

NASDAQ:EA traded up $0.65 on Wednesday, reaching $171.33. 2,289,654 shares of the company's stock were exchanged, compared to its average volume of 3,514,114. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $42.87 billion, a price-to-earnings ratio of 42.94, a P/E/G ratio of 2.18 and a beta of 0.72. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90. The stock has a fifty day simple moving average of $157.04 and a 200-day simple moving average of $146.73.

Electronic Arts Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

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.