Pensionfund Sabic Sells 1,500 Shares of Electronic Arts Inc. $EA

Key Points

• Pensionfund Sabic reduced its stake in Electronic Arts Inc. by 13.4%, selling 1,500 shares and leaving it with 9,700 shares valued at approximately $1.4 million.
• Several institutional investors have increased their positions in Electronic Arts, with Goldman Sachs growing its holdings by 62.7% and Ameriprise Financial by 197.5%.
• The company announced a quarterly dividend of $0.19 per share, set to be paid on September 17, contributing to an annualized dividend yield of approximately 0.4%.

Pensionfund Sabic trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,700 shares of the game software company's stock after selling 1,500 shares during the quarter. Pensionfund Sabic's holdings in Electronic Arts were worth $1,402,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 150,438 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in Electronic Arts by 2.3% during the 1st quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock worth $570,233,000 after acquiring an additional 88,767 shares during the last quarter. Invesco Ltd. grew its holdings in Electronic Arts by 15.6% during the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock worth $539,563,000 after acquiring an additional 504,760 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Electronic Arts by 62.7% during the 1st 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 during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Electronic Arts by 197.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock worth $421,524,000 after acquiring an additional 1,936,313 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Electronic Arts Stock Up 1.5%

Shares of NASDAQ EA opened at $172.38 on Friday. The company has a market capitalization of $43.13 billion, a P/E ratio of 43.20, a price-to-earnings-growth ratio of 2.19 and a beta of 0.75. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company's 50 day moving average price is $162.98 and its 200-day moving average price is $151.68.

Electronic Arts Dividend Announcement

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

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the transaction, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. The trade was a 8.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock worth $4,778,597 over the last quarter. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. UBS Group set a $167.00 target price on shares of Electronic Arts and gave the stock a "neutral" rating in a report on Friday, August 1st. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a report on Monday, July 28th. Bank of America boosted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Argus set a $170.00 price target on shares of Electronic Arts in a research report on Friday, May 16th. Finally, Citigroup restated a "neutral" rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

About Electronic Arts

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.

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