Harvest Fund Management Co. Ltd Sells 3,460 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in Electronic Arts by 17.4%, selling 3,460 shares, and now holds a total of 16,463 shares worth $2,379,000.
• Multiple institutional investors, including Nomura Holdings Inc. and Huntington National Bank, have significantly increased their holdings in Electronic Arts in the first quarter.
• Electronic Arts has announced a quarterly dividend of $0.19 per share, representing an annualized yield of 0.51%, to be paid on September 17th.

Harvest Fund Management Co. Ltd trimmed its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,463 shares of the game software company's stock after selling 3,460 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Electronic Arts were worth $2,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in Electronic Arts by 5.2% in the 4th quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock valued at $1,778,553,000 after acquiring an additional 605,796 shares during the period. Geode Capital Management LLC increased its stake in shares of Electronic Arts by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company's stock worth $978,650,000 after purchasing an additional 30,929 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Electronic Arts by 6.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company's stock worth $648,169,000 after purchasing an additional 270,991 shares during the last quarter. Northern Trust Corp boosted its stake in Electronic Arts by 12.4% in the 4th quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock valued at $476,540,000 after purchasing an additional 360,563 shares during the period. Finally, Invesco Ltd. grew its holdings in Electronic Arts by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company's stock valued at $472,362,000 after buying an additional 120,632 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EA. The Goldman Sachs Group boosted their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. UBS Group set a $167.00 price objective on shares of Electronic Arts and gave the company a "neutral" rating in a report on Friday. Citigroup reiterated a "neutral" rating and issued a $153.00 price target (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Benchmark increased their price target on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. Sixteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $164.21.

Electronic Arts Trading Up 3.0%

Electronic Arts stock traded up $4.59 during trading hours on Friday, reaching $157.08. 4,396,980 shares of the company's stock were exchanged, compared to its average volume of 2,517,279. The firm has a market capitalization of $39.47 billion, a PE ratio of 39.37, a PEG ratio of 1.98 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm's 50 day simple moving average is $151.42 and its 200 day simple moving average is $143.24. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. Electronic Arts's payout ratio is presently 19.05%.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the sale, the executive vice president directly owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,729 shares of company stock valued at $4,677,324 over the last quarter. 0.24% of the stock is currently owned by company insiders.

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.