Swiss National Bank Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Swiss National Bank reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,300 shares of the game software company’s stock after selling 2,800 shares during the quarter. Swiss National Bank’s holdings in Electronic Arts were worth $107,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in shares of Electronic Arts by 4.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 62,486 shares of the game software company’s stock valued at $8,963,000 after acquiring an additional 2,898 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Electronic Arts during the 3rd quarter valued at approximately $950,000. RIA Advisory Group LLC bought a new position in shares of Electronic Arts during the 3rd quarter valued at approximately $349,000. Natixis Advisors LLC boosted its position in shares of Electronic Arts by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 263,298 shares of the game software company’s stock valued at $37,768,000 after acquiring an additional 36,262 shares during the last quarter. Finally, Archer Investment Corp boosted its position in shares of Electronic Arts by 3,893.6% during the 3rd quarter. Archer Investment Corp now owns 1,877 shares of the game software company’s stock valued at $269,000 after acquiring an additional 1,830 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EA has been the subject of a number of research reports. Robert W. Baird increased their target price on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Benchmark restated a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. Bank of America raised their price target on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now owns 54,247 shares in the company, valued at approximately $7,675,950.50. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the sale, the insider now owns 30,190 shares in the company, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,884 shares of company stock worth $3,699,335. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $164.01 on Tuesday. The company has a market capitalization of $43.02 billion, a PE ratio of 42.16, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The company has a 50-day simple moving average of $147.57 and a two-hundred day simple moving average of $142.90. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $164.45.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. Electronic Arts’s dividend payout ratio is presently 19.54%.

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.