Mediolanum International Funds Ltd Sells 8,393 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Electronic Arts Inc. by 15.1%, bringing its holdings to 47,072 shares worth approximately $6.79 million.
• Electronic Arts announced a quarterly dividend of $0.19 per share, representing a yield of 0.50% with a payout ratio of 17.92%.
• Analysts have given Electronic Arts a consensus rating of "Moderate Buy" with a price target averaging around $162.71, following multiple upgrades from various financial institutions.

Mediolanum International Funds Ltd trimmed its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,072 shares of the game software company's stock after selling 8,393 shares during the quarter. Mediolanum International Funds Ltd's holdings in Electronic Arts were worth $6,790,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of EA. Putney Financial Group LLC bought a new position in 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 valued at about $28,000. LGT Financial Advisors LLC purchased a new position in Electronic Arts in the fourth quarter worth about $33,000. Wayfinding Financial LLC bought a new position in shares of Electronic Arts in the first quarter worth approximately $39,000. Finally, American National Bank & Trust bought a new position in shares of Electronic Arts in the first quarter worth approximately $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 6,563 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total value of $992,194.34. Following the transaction, the chief executive officer directly owned 70,059 shares of the company's stock, valued at approximately $10,591,519.62. This trade represents a 8.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the transaction, the insider directly owned 37,131 shares in the company, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,729 shares of company stock valued at $4,822,884 in the last 90 days. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EA shares. Moffett Nathanson restated a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Robert W. Baird set a $168.00 price objective on Electronic Arts in a research report on Wednesday, May 7th. Benchmark lifted their price objective on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $162.92.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded up $0.31 during midday trading on Monday, hitting $151.99. 2,991,332 shares of the stock traded hands, compared to its average volume of 3,498,436. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The firm has a 50-day moving average of $151.04 and a two-hundred day moving average of $142.86. The firm has a market capitalization of $38.19 billion, a P/E ratio of 35.85, a PEG ratio of 2.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. Electronic Arts's dividend payout ratio is currently 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.