QRG Capital Management Inc. Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

QRG Capital Management Inc. lowered its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,924 shares of the game software company's stock after selling 18,298 shares during the quarter. QRG Capital Management Inc.'s holdings in Electronic Arts were worth $3,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EA. Brighton Jones LLC raised its stake in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after acquiring an additional 294 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Electronic Arts by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 81,616 shares of the game software company's stock worth $11,940,000 after purchasing an additional 1,612 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Electronic Arts by 269.0% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the game software company's stock worth $117,000 after purchasing an additional 581 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Electronic Arts in the fourth quarter worth about $107,000. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Electronic Arts by 53.8% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,947 shares of the game software company's stock worth $1,602,000 after purchasing an additional 3,829 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Performance

EA opened at $151.00 on Thursday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $37.87 billion, a PE ratio of 35.61, a P/E/G ratio of 2.07 and a beta of 0.71. The firm has a 50 day moving average of $147.81 and a two-hundred day moving average of $143.03.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio is presently 17.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $153.00 price target (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. The Goldman Sachs Group upped their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Moffett Nathanson restated a "neutral" rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday, May 7th. Finally, HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a report on Wednesday, May 7th. Fifteen research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $161.88.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the completion of the transaction, the executive vice president now directly owns 29,948 shares of the company's stock, valued at $4,452,968.12. The trade was a 4.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 2,666 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total transaction of $402,379.38. Following the transaction, the chief executive officer now directly owns 67,393 shares of the company's stock, valued at approximately $10,171,625.49. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,229 shares of company stock valued at $3,618,199. 0.22% of the stock is owned by 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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