Public Employees Retirement System of Ohio Sells 1,852 Shares of Electronic Arts Inc. $EA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Electronic Arts Inc. by 1.9%, selling 1,852 shares and holding 95,648 shares valued at approximately $15.3 million by the end of the last quarter.
• Recent upgrades and price targets from analysts suggest a positive outlook for Electronic Arts, with price targets ranging from $160 to $210, and a consensus rating of "Moderate Buy".
• Electronic Arts announced a quarterly dividend of $0.19 per share, resulting in an annualized dividend yield of 0.5%, and has a payout ratio of 19.05%.

Public Employees Retirement System of Ohio lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,648 shares of the game software company's stock after selling 1,852 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Electronic Arts were worth $15,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EA. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the 1st quarter valued at about $28,000. Bank of Jackson Hole Trust increased its stake in shares of 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 valued at $30,000 after purchasing an additional 75 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Electronic Arts during the first quarter valued at approximately $39,000. American National Bank & Trust purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $40,000. Finally, Costello Asset Management INC bought a new stake in shares of Electronic Arts in the 1st quarter worth approximately $40,000. Institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group set a $167.00 price objective on Electronic Arts and gave the company a "neutral" rating in a research note on Friday, August 1st. Arete Research set a $192.00 price target on Electronic Arts in a research report on Tuesday, August 5th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target on the stock in a research note on Tuesday, August 5th. Wedbush restated an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. Finally, DA Davidson lifted their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.40.

Electronic Arts Price Performance

NASDAQ EA opened at $168.32 on Friday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The stock has a 50-day moving average of $166.81 and a 200 day moving average of $154.05. 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 has a market capitalization of $42.12 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.54 and a beta of 0.75.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's payout ratio is presently 19.05%.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the sale, the insider owned 34,731 shares in the company, valued at approximately $5,957,061.12. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,800 shares of company stock worth $5,077,960 in the last three months. 0.24% of the stock is currently owned by company 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.

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