Sumitomo Mitsui DS Asset Management Company Ltd Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,641 shares of the game software company's stock after selling 5,611 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Electronic Arts were worth $4,717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nomura Holdings Inc. raised its stake in Electronic Arts by 11.7% in the 4th quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after purchasing an additional 3,259 shares during the last quarter. Huntington National Bank grew its holdings in shares of Electronic Arts by 31.4% during the fourth quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock worth $49,577,000 after buying an additional 80,968 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Electronic Arts by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company's stock valued at $213,089,000 after buying an additional 36,153 shares during the last quarter. Amundi raised its position in shares of Electronic Arts by 4.3% in the fourth quarter. Amundi now owns 2,990,729 shares of the game software company's stock valued at $431,315,000 after buying an additional 122,494 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Electronic Arts by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after buying an additional 13,461 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $155.57, for a total value of $388,925.00. Following the completion of the transaction, the insider owned 40,189 shares of the company's stock, valued at approximately $6,252,202.73. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $145.56, for a total value of $145,560.00. Following the sale, the insider owned 25,216 shares in the company, valued at $3,670,440.96. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,229 shares of company stock worth $4,226,399. 0.22% of the stock is currently owned by insiders.

Electronic Arts Trading Down 1.3%

NASDAQ:EA opened at $157.03 on Thursday. The business's 50-day moving average is $150.29 and its two-hundred day moving average is $142.44. The firm has a market capitalization of $39.46 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's payout ratio is 17.92%.

Wall Street Analysts Forecast Growth

Several analysts have commented on EA shares. The Goldman Sachs Group lifted their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. UBS Group lifted their price objective on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Moffett Nathanson reiterated a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, May 7th. Finally, Robert W. Baird set a $168.00 price target on Electronic Arts in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.80.

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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