NFJ Investment Group LLC Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

NFJ Investment Group LLC reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,889 shares of the game software company’s stock after selling 11,716 shares during the period. NFJ Investment Group LLC’s holdings in Electronic Arts were worth $13,935,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EA. Capital International Investors increased its holdings in Electronic Arts by 87.1% during the first quarter. Capital International Investors now owns 2,399,789 shares of the game software company’s stock valued at $324,855,000 after buying an additional 1,116,941 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Electronic Arts by 176.5% during the first quarter. Renaissance Technologies LLC now owns 1,725,164 shares of the game software company’s stock valued at $233,535,000 after buying an additional 1,101,177 shares during the last quarter. BlackRock Inc. increased its holdings in Electronic Arts by 3.5% during the first quarter. BlackRock Inc. now owns 23,793,414 shares of the game software company’s stock valued at $3,220,914,000 after buying an additional 799,918 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Electronic Arts by 186.8% in the first quarter. Alyeska Investment Group L.P. now owns 909,165 shares of the game software company’s stock worth $123,074,000 after purchasing an additional 592,196 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Electronic Arts by 132.7% in the second quarter. Los Angeles Capital Management LLC now owns 817,306 shares of the game software company’s stock worth $117,553,000 after purchasing an additional 466,130 shares in the last quarter. 88.68% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on EA shares. Moffett Nathanson started coverage on shares of Electronic Arts in a research note on Thursday, June 24th. They issued a “neutral” rating and a $151.00 price objective for the company. BMO Capital Markets raised shares of Electronic Arts from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $150.00 to $168.00 in a research note on Tuesday, July 13th. Berenberg Bank raised their target price on shares of Electronic Arts from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. Credit Suisse Group raised their target price on shares of Electronic Arts from $165.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, August 2nd. Finally, TheStreet raised shares of Electronic Arts from a “c+” rating to a “b” rating in a research note on Wednesday, August 4th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $162.85.

EA stock traded up $1.39 during trading on Thursday, hitting $127.79. The company had a trading volume of 28,957 shares, compared to its average volume of 2,467,305. The firm has a market capitalization of $36.37 billion, a P/E ratio of 54.48 and a beta of 0.90. Electronic Arts Inc. has a 52-week low of $110.15 and a 52-week high of $150.30. The company has a 50 day simple moving average of $140.89 and a 200-day simple moving average of $140.20. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.24.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, August 3rd. The game software company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.52. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. Electronic Arts had a net margin of 11.82% and a return on equity of 13.81%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Sell-side analysts forecast that Electronic Arts Inc. will post 5.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Shareholders of record on Wednesday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, August 31st. Electronic Arts’s dividend payout ratio (DPR) is 14.98%.

In other news, CEO Andrew Wilson sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $140.89, for a total value of $1,408,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $143.46, for a total transaction of $114,768.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,845 shares of company stock worth $7,229,811. Insiders own 0.65% of the company’s stock.

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. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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