Electronic Arts Inc. $EA Stake Reduced by South Dakota Investment Council

South Dakota Investment Council cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 38.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,150 shares of the game software company’s stock after selling 1,350 shares during the quarter. South Dakota Investment Council’s holdings in Electronic Arts were worth $343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC raised its position in Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Electronic Arts by 3.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company’s stock worth $323,000 after buying an additional 72 shares during the period. Bank of Jackson Hole Trust raised its holdings in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the period. Financial Management Professionals Inc. raised its holdings in Electronic Arts by 13.6% during the 2nd quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company’s stock worth $102,000 after buying an additional 76 shares during the period. Finally, ORG Partners LLC raised its holdings in Electronic Arts by 47.6% during the 2nd quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock worth $40,000 after buying an additional 81 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on EA shares. Wall Street Zen downgraded Electronic Arts from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a report on Monday, September 29th. DA Davidson boosted their price objective on Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price objective on the stock in a report on Tuesday, August 5th. Finally, BMO Capital Markets boosted their price objective on Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and an average price target of $181.64.

Insiders Place Their Bets

In related news, EVP Jacob J. Schatz sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.80, for a total value of $240,960.00. Following the completion of the sale, the executive vice president owned 24,880 shares of the company’s stock, valued at approximately $4,995,904. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $201.79, for a total value of $504,475.00. Following the completion of the sale, the insider directly owned 53,092 shares of the company’s stock, valued at approximately $10,713,434.68. The trade was a 4.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,400 shares of company stock worth $7,359,462 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

Shares of EA opened at $200.78 on Wednesday. The company has a market capitalization of $50.24 billion, a price-to-earnings ratio of 58.71, a P/E/G ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day moving average is $187.30 and its 200-day moving average is $165.92.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is presently 22.22%.

Electronic Arts 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.