Jacobs & Co. CA Cuts Stake in Electronic Arts Inc. $EA

Jacobs & Co. CA decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,267 shares of the game software company’s stock after selling 3,395 shares during the period. Jacobs & Co. CA’s holdings in Electronic Arts were worth $10,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norden Group LLC purchased a new stake in Electronic Arts during the second quarter worth $214,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Electronic Arts by 34.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock worth $6,467,000 after buying an additional 10,453 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Electronic Arts in the 1st quarter worth about $319,000. Vest Financial LLC grew its stake in Electronic Arts by 5.7% in the 2nd quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock valued at $44,408,000 after acquiring an additional 15,032 shares during the last quarter. Finally, Alta Advisers Ltd purchased a new position in Electronic Arts during the 2nd quarter valued at about $205,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In related news, Director Jeff Huber sold 79,381 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $201.17, for a total value of $15,969,075.77. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $504,475.00. Following the completion of the sale, the insider 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 132,469 shares of company stock worth $26,466,829. 0.24% of the stock is owned by insiders.

Electronic Arts Trading Up 0.0%

Shares of EA opened at $203.73 on Monday. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $204.64. The company has a market capitalization of $50.95 billion, a PE ratio of 59.57, a price-to-earnings-growth ratio of 2.44 and a beta of 0.76. The stock has a fifty day moving average of $201.32 and a two-hundred day moving average of $176.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. Electronic Arts’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 EPS. As a group, analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

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

Analysts Set New Price Targets

EA has been the topic of several recent research reports. Citigroup upped their price target on shares of Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. TD Cowen lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. BMO Capital Markets increased their target price on Electronic Arts from $166.00 to $210.00 and gave the company a “market perform” rating in a report on Tuesday, September 30th. Baird R W downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Argus set a $210.00 price objective on Electronic Arts in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $181.21.

About Electronic Arts

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.