State of Michigan Retirement System Sells 400 Shares of Electronic Arts Inc. (NASDAQ:EA)

State of Michigan Retirement System cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,554 shares of the game software company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Electronic Arts were worth $9,228,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EA. Cullinan Associates Inc. boosted its position in Electronic Arts by 5.2% during the first quarter. Cullinan Associates Inc. now owns 193,823 shares of the game software company’s stock valued at $25,714,000 after purchasing an additional 9,554 shares during the last quarter. Claro Advisors LLC boosted its position in Electronic Arts by 5.6% during the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after purchasing an additional 100 shares during the last quarter. Diversified Trust Co boosted its position in Electronic Arts by 90.0% during the first quarter. Diversified Trust Co now owns 15,150 shares of the game software company’s stock valued at $2,010,000 after purchasing an additional 7,176 shares during the last quarter. Mirador Capital Partners LP boosted its position in Electronic Arts by 15.4% during the first quarter. Mirador Capital Partners LP now owns 3,766 shares of the game software company’s stock valued at $500,000 after purchasing an additional 502 shares during the last quarter. Finally, KRS Capital Management LLC boosted its position in Electronic Arts by 17.1% during the first quarter. KRS Capital Management LLC now owns 1,880 shares of the game software company’s stock valued at $249,000 after purchasing an additional 275 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded up $1.56 during trading hours on Tuesday, reaching $138.88. 1,288,423 shares of the stock were exchanged, compared to its average volume of 2,121,092. The stock’s fifty day simple moving average is $132.91 and its 200 day simple moving average is $134.83. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.21 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.78 billion. Sell-side analysts predict that Electronic Arts Inc. will post 5.72 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.55%. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity

In other news, insider Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.21, for a total value of $128,210.00. Following the transaction, the insider now owns 18,426 shares in the company, valued at approximately $2,362,397.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.21, for a total value of $128,210.00. Following the transaction, the insider now owns 18,426 shares in the company, valued at approximately $2,362,397.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $127.19, for a total value of $317,975.00. Following the sale, the chief executive officer now directly owns 23,430 shares in the company, valued at approximately $2,980,061.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,039 shares of company stock worth $3,065,356. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Electronic Arts from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $162.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 8th. BMO Capital Markets cut their price objective on Electronic Arts from $160.00 to $154.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. UBS Group cut their price objective 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. Finally, Roth Mkm cut their price objective on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

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.