Lansforsakringar Fondforvaltning AB publ Cuts Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Lansforsakringar Fondforvaltning AB has reduced its holdings in Electronic Arts Inc. by 2.2%, selling 1,859 shares during the first quarter, now owning 82,969 shares valued at nearly $12 million.
• Recent analyst ratings have increased price targets for Electronic Arts, with Goldman Sachs raising its target from $135 to $155 and Argus setting one at $170, contributing to a consensus target of $167.12.
• Electronic Arts has declared a quarterly dividend of $0.19 per share, to be paid to stockholders of record on August 27th, representing an annual yield of 0.4%.

Lansforsakringar Fondforvaltning AB publ decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,969 shares of the game software company's stock after selling 1,859 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Electronic Arts were worth $11,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the first quarter worth about $28,000. Bank of Jackson Hole Trust boosted its holdings in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after buying an additional 75 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Electronic Arts during the first quarter worth about $39,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts during the first quarter worth about $40,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Trading Down 2.0%

Shares of EA traded down $3.48 on Wednesday, hitting $167.97. 1,606,812 shares of the stock traded hands, compared to its average volume of 3,435,916. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $42.03 billion, a P/E ratio of 42.09, a P/E/G ratio of 2.22 and a beta of 0.75. The stock's 50 day moving average is $161.16 and its two-hundred day moving average is $149.69. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $180.90.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid 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 dividend payout ratio is presently 19.05%.

Analyst Ratings Changes

A number of research firms recently commented on EA. Benchmark boosted their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Bank of America boosted their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Wall Street Zen downgraded 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 objective 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. Finally, Moffett Nathanson reaffirmed a "neutral" rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 35,931 shares of the company's stock, valued at approximately $6,189,474.06. This represents a 3.23% 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 the stock in a transaction that occurred 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 transaction, the insider directly owned 58,092 shares in the company, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,900 shares of company stock worth $4,778,597. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Company 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.