Zurcher Kantonalbank Zurich Cantonalbank Sells 5,835 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Zurcher Kantonalbank has reduced its stake in Electronic Arts by 1.8%, selling 5,835 shares, and now holds 309,612 shares valued at approximately $44.75 million.
• Electronic Arts’ stock recently opened at $151.68, with a market capitalization of $38.11 billion and a recent decline of 0.6%.
• The company's recent dividend payout was $0.19 per share, translating to an annualized amount of $0.76 and yielding 0.50%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,612 shares of the game software company's stock after selling 5,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Electronic Arts worth $44,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Capital International Investors lifted its position in shares of Electronic Arts by 5.2% during the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock valued at $1,778,553,000 after buying an additional 605,796 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Electronic Arts by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company's stock valued at $978,650,000 after acquiring an additional 30,929 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Electronic Arts by 6.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company's stock valued at $648,169,000 after acquiring an additional 270,991 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Electronic Arts by 12.4% during the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock valued at $476,540,000 after acquiring an additional 360,563 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Electronic Arts by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company's stock valued at $472,362,000 after acquiring an additional 120,632 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Down 0.6%

Electronic Arts stock opened at $151.68 on Monday. The stock has a market capitalization of $38.11 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.06 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 business has a 50 day simple moving average of $151.04 and a 200-day simple moving average of $142.86. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

Analyst Ratings Changes

EA has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wedbush restated an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a report on Tuesday, July 22nd. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and upped their price objective for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. Oppenheimer upped their target price on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, TD Cowen upped their target price on Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.71.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total value of $151,320.00. Following the sale, the chief financial officer directly owned 14,533 shares of the company's stock, valued at $2,199,133.56. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider directly owned 37,131 shares in the company, valued at $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,729 shares of company stock valued at $4,822,884. 0.24% 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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