Mackenzie Financial Corp Sells 2,549 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Mackenzie Financial Corp reduced its position in Electronic Arts by 1.8% by selling 2,549 shares, bringing its total to 139,733 shares valued at approximately $20.19 million.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, representing a yield of 0.49%, and the ex-dividend date is set for August 27th.
• Several brokerage firms have issued new price targets for Electronic Arts, with the consensus rating being a "Hold" and an average price target of $164.44.

Mackenzie Financial Corp trimmed its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,733 shares of the game software company's stock after selling 2,549 shares during the quarter. Mackenzie Financial Corp owned about 0.05% of Electronic Arts worth $20,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EA. Putney Financial Group LLC bought a new stake in shares of Electronic Arts in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the 1st quarter worth about $28,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts during the 4th quarter worth about $33,000. Wayfinding Financial LLC bought a new stake in Electronic Arts during the 1st quarter worth about $39,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts during the 1st quarter worth about $40,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EA has been the topic of several recent analyst reports. Citigroup reissued a "neutral" rating and set a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their target price for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of "Hold" and an average target price of $164.21.

Electronic Arts Price Performance

EA traded up $4.59 on Friday, reaching $157.08. The stock had a trading volume of 4,396,980 shares, compared to its average volume of 2,517,279. The company has a current ratio of 0.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.72. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The firm has a 50-day moving average of $151.42 and a 200-day moving average of $143.24.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid a $0.19 dividend. 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%.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the transaction, the insider owned 37,131 shares in the company, valued at $5,923,508.43. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the sale, the chief financial officer owned 14,533 shares of the company's stock, valued at approximately $2,199,133.56. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,729 shares of company stock valued at $4,677,324. Corporate insiders own 0.24% of the company's stock.

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.