Electronic Arts Inc. (NASDAQ:EA) Position Lowered by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 744,770 shares of the game software company’s stock after selling 75,305 shares during the quarter. Primecap Management Co. CA owned approximately 0.28% of Electronic Arts worth $103,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Electronic Arts by 29.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock worth $215,725,000 after buying an additional 354,005 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Electronic Arts by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company’s stock valued at $583,162,000 after acquiring an additional 18,376 shares during the period. Walter Public Investments Inc. grew its holdings in shares of Electronic Arts by 104.0% during the second quarter. Walter Public Investments Inc. now owns 87,347 shares of the game software company’s stock valued at $12,170,000 after purchasing an additional 44,528 shares during the last quarter. Rathbones Group PLC raised its position in shares of Electronic Arts by 15.4% during the 2nd quarter. Rathbones Group PLC now owns 195,414 shares of the game software company’s stock worth $27,227,000 after purchasing an additional 26,041 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Electronic Arts in the 2nd quarter worth approximately $18,897,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $142.59 on Wednesday. The firm’s 50 day moving average is $146.40 and its 200-day moving average is $137.65. The stock has a market capitalization of $37.89 billion, a P/E ratio of 30.47, a P/E/G ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. Equities research analysts anticipate that Electronic Arts Inc. will post 5.89 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.53%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EA. Roth Mkm upped their price objective on Electronic Arts from $135.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird boosted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $161.28.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the transaction, the chief executive officer now directly owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $144.86, for a total value of $144,860.00. Following the completion of the transaction, the executive vice president now directly owns 29,317 shares in the company, valued at $4,246,860.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total transaction of $350,650.00. Following the completion of the transaction, the chief executive officer now owns 61,747 shares of the company’s stock, valued at $8,660,634.22. The disclosure for this sale can be found here. Insiders have sold 28,570 shares of company stock valued at $4,183,508 in the last quarter. Insiders own 0.22% 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.