Kentucky Retirement Systems Sells 143 Shares of Electronic Arts Inc. (NASDAQ:EA)

Kentucky Retirement Systems reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,333 shares of the game software company’s stock after selling 143 shares during the quarter. Kentucky Retirement Systems’ holdings in Electronic Arts were worth $2,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. North Star Investment Management Corp. boosted its stake in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after buying an additional 101 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of Electronic Arts during the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the second quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Electronic Arts during the 1st quarter worth approximately $30,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm reiterated a “neutral” rating and set a $154.00 price objective on shares of Electronic Arts in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Citigroup downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price target for the company from $148.00 to $161.00 in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.94.

Insiders Place Their Bets

In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the transaction, the executive vice president now owns 26,360 shares in the company, valued at approximately $3,863,848.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the sale, the chief executive officer now owns 61,747 shares in the company, valued at $8,660,634.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the transaction, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,570 shares of company stock valued at $4,183,508. Insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $139.55 on Friday. The firm’s fifty day simple moving average is $146.27 and its two-hundred day simple moving average is $137.70. The firm has a market capitalization of $37.08 billion, a P/E ratio of 29.82, a P/E/G ratio of 1.97 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. 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 earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Analysts forecast that Electronic Arts Inc. will post 5.89 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis 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 presently 16.24%.

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.