Korea Investment CORP Sells 24,086 Shares of Electronic Arts Inc. $EA

Key Points

• Korea Investment CORP has reduced its stake in Electronic Arts Inc. by 20.0%, selling 24,086 shares and bringing its total holdings to 96,479 shares valued at approximately $13.9 million.
• In a recent report, various large investors like Vanguard Group and Goldman Sachs have adjusted their positions in Electronic Arts, indicating significant institutional interest in the company's stock.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with a payout date of September 17th, reflecting a 0.4% yield for shareholders.

Korea Investment CORP decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,479 shares of the game software company's stock after selling 24,086 shares during the period. Korea Investment CORP's holdings in Electronic Arts were worth $13,943,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock worth $4,198,607,000 after buying an additional 150,438 shares in the last quarter. Invesco Ltd. increased its stake in shares of Electronic Arts by 15.6% in the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock valued at $539,563,000 after acquiring an additional 504,760 shares in the last quarter. Northern Trust Corp lifted its position in shares of Electronic Arts by 12.4% during 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 acquiring an additional 360,563 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 acquiring an additional 1,254,194 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Electronic Arts by 5.2% in 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. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the transaction, the insider owned 37,131 shares of the company's stock, valued at approximately $5,923,508.43. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,200 shares of company stock worth $4,142,660. Company insiders own 0.24% of the company's stock.

Electronic Arts Trading Up 0.1%

Shares of Electronic Arts stock opened at $171.55 on Friday. The company has a market capitalization of $42.92 billion, a P/E ratio of 42.99, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72. The stock has a fifty day simple moving average of $157.95 and a 200 day simple moving average of $147.23. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

EA has been the topic of several research reports. TD Cowen upped their price objective 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 reaffirmed a "neutral" rating and issued a $153.00 target price (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 report on Wednesday, May 7th. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Two 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $167.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.