Amalgamated Bank Lowers Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Amalgamated Bank cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,542 shares of the game software company’s stock after selling 2,602 shares during the period. Amalgamated Bank’s holdings in Electronic Arts were worth $7,042,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Electronic Arts by 496.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after acquiring an additional 2,090,504 shares in the last quarter. Swedbank AB acquired a new position in Electronic Arts in the 1st quarter worth $201,935,000. Jericho Capital Asset Management L.P. acquired a new position in Electronic Arts in the 1st quarter worth $189,055,000. Finally, Manning & Napier Advisors LLC acquired a new position in Electronic Arts in the 2nd quarter worth $188,159,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at $8,660,634.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,570 shares of company stock worth $4,183,508. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on EA. BMO Capital Markets reiterated an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. TD Cowen boosted their price objective on shares of Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of Electronic Arts in a report on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Raymond James boosted their target price on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.94.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $140.74 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The firm has a 50-day simple moving average of $146.36 and a 200 day simple moving average of $137.68. The company has a market cap of $37.40 billion, a PE ratio of 30.07, a P/E/G ratio of 1.97 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 5.89 EPS for the current year.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.