State of Michigan Retirement System Reduces Position in Electronic Arts Inc. (NASDAQ:EA)

State of Michigan Retirement System lowered its stake in Electronic Arts Inc. (NASDAQ:EAFree Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,954 shares of the game software company’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in Electronic Arts were worth $9,570,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EA. Cetera Advisor Networks LLC boosted its holdings in shares of Electronic Arts by 11.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,466 shares of the game software company’s stock valued at $439,000 after buying an additional 363 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Electronic Arts by 8.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,459 shares of the game software company’s stock valued at $564,000 after buying an additional 347 shares in the last quarter. Cibc World Market Inc. boosted its holdings in shares of Electronic Arts by 3.8% during the 1st quarter. Cibc World Market Inc. now owns 14,997 shares of the game software company’s stock valued at $1,897,000 after buying an additional 548 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Electronic Arts by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 866,675 shares of the game software company’s stock valued at $109,653,000 after buying an additional 13,934 shares in the last quarter. Finally, Prudential PLC boosted its holdings in shares of Electronic Arts by 208.9% during the 1st quarter. Prudential PLC now owns 14,112 shares of the game software company’s stock valued at $1,785,000 after buying an additional 9,544 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Electronic Arts in a report on Tuesday, December 12th. They set a “peer perform” rating on the stock. UBS Group lowered their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, March 27th. Stifel Nicolaus lifted their price target on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. BMO Capital Markets began coverage on Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Get Our Latest Stock Analysis on EA

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $132.82, for a total value of $106,256.00. Following the completion of the transaction, the insider now directly owns 27,083 shares in the company, valued at approximately $3,597,164.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $132.82, for a total value of $106,256.00. Following the completion of the transaction, the insider now directly owns 27,083 shares in the company, valued at approximately $3,597,164.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total value of $347,200.00. Following the completion of the transaction, the chief executive officer now owns 30,930 shares of the company’s stock, valued at $4,295,558.40. The disclosure for this sale can be found here. Insiders sold 37,144 shares of company stock worth $5,153,300 in the last three months. 0.20% of the stock is owned by company insiders.

Electronic Arts Trading Down 0.9 %

Shares of NASDAQ:EA opened at $132.15 on Wednesday. The stock has a 50 day moving average of $137.12 and a 200 day moving average of $133.68. The company has a market cap of $35.33 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $144.53.

Electronic Arts (NASDAQ:EAGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.40 billion. Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, equities research analysts expect that Electronic Arts Inc. will post 5.36 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.58%. Electronic Arts’s dividend payout ratio (DPR) is presently 19.14%.

Electronic Arts Profile

(Free Report)

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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