Intech Investment Management LLC Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Intech Investment Management LLC cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 30.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,469 shares of the game software company’s stock after selling 42,022 shares during the period. Intech Investment Management LLC’s holdings in Electronic Arts were worth $13,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its position in Electronic Arts by 2.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after acquiring an additional 79 shares in the last quarter. Grove Bank & Trust lifted its stake in Electronic Arts by 23.5% in the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after purchasing an additional 94 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Electronic Arts by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock worth $291,000 after purchasing an additional 97 shares during the last quarter. Claro Advisors LLC lifted its stake in Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Electronic Arts by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after purchasing an additional 100 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the sale, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $146.58, for a total value of $219,870.00. Following the sale, the executive vice president now owns 26,360 shares in the company, valued at $3,863,848.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Insiders have sold a total of 28,570 shares of company stock worth $4,183,508 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Price Performance

Shares of EA opened at $139.55 on Friday. The stock has a market cap of $37.08 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The firm’s 50-day simple moving average is $146.27 and its two-hundred day simple moving average is $137.70.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business 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%. Analysts anticipate that Electronic Arts Inc. will post 5.89 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Analyst Ratings Changes

EA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research note on Wednesday. Raymond James boosted their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. UBS Group upped their price objective on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research note on Thursday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

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.