State of New Jersey Common Pension Fund D Reduces Holdings in Electronic Arts Inc. $EA

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Electronic Arts Inc. by 6.4%, now holding 84,250 shares valued at approximately $12.18 million.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with an annualized dividend yield of 0.4%, linking its payout ratio at 19.05%.
• Wall Street analysts have upgraded their ratings on Electronic Arts, with target prices ranging from $168.00 to $192.00, indicating a consensus rating of "Moderate Buy".

State of New Jersey Common Pension Fund D reduced its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,250 shares of the game software company's stock after selling 5,806 shares during the period. State of New Jersey Common Pension Fund D's holdings in Electronic Arts were worth $12,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the 1st quarter worth approximately $28,000. Bank of Jackson Hole Trust raised its holdings in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Electronic Arts during the 4th quarter valued at approximately $33,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Electronic Arts in the first quarter valued at $39,000. Institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Up 0.4%

Shares of NASDAQ:EA traded up $0.65 on Wednesday, reaching $171.33. The company had a trading volume of 2,289,654 shares, compared to its average volume of 3,514,114. The firm has a market capitalization of $42.87 billion, a PE ratio of 42.94, a PEG ratio of 2.18 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The firm's 50 day simple moving average is $157.04 and its 200-day simple moving average is $146.73.

Electronic Arts Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on EA shares. Robert W. Baird increased their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. TD Cowen raised their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and lifted their target price for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Argus set a $170.00 price target on Electronic Arts in a research report on Friday, May 16th. Finally, UBS Group set a $167.00 price target on Electronic Arts and gave the company a "neutral" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Activity

In related news, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $174.65, for a total transaction of $209,580.00. Following the completion of the sale, the executive vice president owned 27,248 shares of the company's stock, valued at $4,758,863.20. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $152.21, for a total transaction of $761,050.00. Following the completion of the sale, the chief executive officer owned 57,393 shares of the company's stock, valued at approximately $8,735,788.53. This trade represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,200 shares of company stock valued at $3,116,350. Corporate insiders own 0.24% of the company's stock.

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.