Electronic Arts Inc. (EA) Shares Sold by Goelzer Investment Management Inc.
Goelzer Investment Management Inc. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,144 shares of the game software company’s stock after selling 290 shares during the period. Goelzer Investment Management Inc.’s holdings in Electronic Arts were worth $2,130,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares in the last quarter. Winslow Capital Management LLC boosted its stake in Electronic Arts by 1,869,551.3% in the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock valued at $257,751,000 after buying an additional 2,879,109 shares in the last quarter. Vanguard Group Inc. boosted its stake in Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Electronic Arts by 174.5% in the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock valued at $195,204,000 after buying an additional 1,386,296 shares in the last quarter. 98.02% of the stock is owned by institutional investors.
Electronic Arts Inc. (NASDAQ:EA) opened at 116.96 on Tuesday. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 31.31 and a beta of 0.72. The company has a 50-day moving average of $111.06 and a 200-day moving average of $97.77. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.14 by $0.22. The business had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities research analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
Electronic Arts declared that its board has authorized a stock repurchase program on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to buy up to 45% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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EA has been the topic of several research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Electronic Arts in a research report on Sunday, May 28th. Benchmark Co. boosted their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Vetr raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price objective on the stock in a research report on Monday, May 8th. Robert W. Baird reaffirmed an “outperform” rating on shares of Electronic Arts in a research report on Thursday, May 11th. Finally, Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $115.19.
In other news, Director Denise Warren sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the transaction, the director now owns 13,665 shares in the company, valued at $1,487,298.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joel Linzner sold 10,000 shares of Electronic Arts stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $100.34, for a total transaction of $1,003,400.00. Following the completion of the transaction, the executive vice president now owns 26,745 shares of the company’s stock, valued at approximately $2,683,593.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 341,915 shares of company stock worth $37,562,227. Insiders own 2.55% of the company’s stock.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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