iA Global Asset Management Inc. Sells 11,778 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• iA Global Asset Management Inc. has reduced its stake in Electronic Arts Inc. by 29.1%, selling 11,778 shares and holding a total of 28,688 shares now valued at $4,146,000 as of its recent SEC filing.
• Electronic Arts announced a quarterly dividend of $0.19 per share, payable on September 17, representing an annualized yield of 0.5%.
• Analysts remain optimistic about Electronic Arts, with several firms increasing price targets, leading to an average target price of $166.35 and a consensus rating of "Moderate Buy."

iA Global Asset Management Inc. decreased its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,688 shares of the game software company's stock after selling 11,778 shares during the period. iA Global Asset Management Inc.'s holdings in Electronic Arts were worth $4,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its holdings in Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares in the last quarter. Bank of Jackson Hole Trust increased its holdings in 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 worth $30,000 after purchasing an additional 75 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in Electronic Arts by 34.2% during the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Clarius Group LLC increased its holdings in Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after purchasing an additional 77 shares in the last quarter. Finally, Conning Inc. increased its holdings in Electronic Arts by 4.7% during the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Buying and Selling

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider owned 58,092 shares of the company's stock, valued at $9,032,725.08. The trade was a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 6,563 shares of Electronic Arts stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the transaction, the chief executive officer directly owned 70,059 shares of the company's stock, valued at $10,591,519.62. The trade was a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,729 shares of company stock worth $4,677,124 over the last quarter. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Price Performance

EA stock traded up $4.89 during mid-day trading on Friday, reaching $167.64. 4,590,507 shares of the company traded hands, compared to its average volume of 2,910,201. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.95. The company has a market capitalization of $41.95 billion, a P/E ratio of 42.02, a P/E/G ratio of 2.10 and a beta of 0.72. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The company has a fifty day moving average price of $153.17 and a 200-day moving average price of $143.95.

Electronic Arts Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Robert W. Baird boosted their price target 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. Argus set a $170.00 price target on shares of Electronic Arts in a report on Friday, May 16th. Finally, Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.35.

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.