Itau Unibanco Holding S.A. Sells 7,209 Shares of Electronic Arts Inc. $EA

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in Electronic Arts Inc. by 92.9% in the 1st quarter, ending up with just 548 shares valued at $79,000.
• Recent analyst reports show growing optimism for Electronic Arts, with Citigroup and Arete issuing target prices of $153 and $192, respectively, indicating a consensus rating of "Moderate Buy."
• Electronic Arts announced a quarterly dividend of $0.19 per share, set to be paid on September 17th, representing a 0.4% annual yield.

Itau Unibanco Holding S.A. lowered its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 92.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 548 shares of the game software company's stock after selling 7,209 shares during the period. Itau Unibanco Holding S.A.'s holdings in Electronic Arts were worth $79,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after purchasing an additional 294 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Electronic Arts by 4.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,949 shares of the game software company's stock valued at $432,000 after buying an additional 113 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Electronic Arts by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 155,736 shares of the game software company's stock worth $22,784,000 after buying an additional 487 shares during the period. Lido Advisors LLC increased its position in shares of Electronic Arts by 5.4% in the fourth quarter. Lido Advisors LLC now owns 4,882 shares of the game software company's stock worth $714,000 after acquiring an additional 250 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Electronic Arts in the fourth quarter worth approximately $997,000. 90.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EA has been the subject of several research analyst reports. Argus set a $170.00 price target on shares of Electronic Arts in a research report on Friday, May 16th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and increased their target price for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. Wedbush reaffirmed an "outperform" rating and issued a $210.00 target price on shares of Electronic Arts in a research report on Monday, August 25th. Benchmark upped their price target on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Electronic Arts presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $172.26, for a total transaction of $206,712.00. Following the completion of the sale, the insider directly owned 35,931 shares of the company's stock, valued at approximately $6,189,474.06. This represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the sale, the chief financial officer directly owned 15,140 shares in the company, valued at approximately $2,589,848.40. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,400 shares of company stock valued at $4,349,372. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Stock Up 0.6%

NASDAQ EA traded up $0.96 on Friday, reaching $171.95. The stock had a trading volume of 2,090,020 shares, compared to its average volume of 2,970,098. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $180.90. The business has a 50 day moving average price of $160.54 and a 200 day moving average price of $149.24. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 2.22 and a beta of 0.75.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

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.