Illinois Municipal Retirement Fund Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Illinois Municipal Retirement Fund decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,801 shares of the game software company's stock after selling 15,312 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Electronic Arts worth $19,915,000 as of its most recent SEC filing.

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

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $150.64, for a total transaction of $753,200.00. Following the transaction, the chief executive officer now owns 62,393 shares of the company's stock, valued at approximately $9,398,881.52. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the sale, the insider now directly owns 40,189 shares of the company's stock, valued at $6,252,202.73. The trade was a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,229 shares of company stock valued at $4,371,399 over the last three months. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EA. Argus set a $170.00 price objective on shares of Electronic Arts in a research note on Friday, May 16th. 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 report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $153.00 price target (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Oppenheimer increased their target price on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and an average target price of $162.80.

Electronic Arts Price Performance

Shares of EA stock traded up $0.01 during trading hours on Friday, hitting $157.74. The company's stock had a trading volume of 2,316,534 shares, compared to its average volume of 2,791,494. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a market cap of $39.64 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 2.14 and a beta of 0.71. The business has a fifty day moving average of $149.16 and a 200-day moving average of $142.55.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's payout ratio is 17.92%.

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.