Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,677 shares of the game software company’s stock after selling 2,519 shares during the period. Corebridge Financial Inc.’s holdings in Electronic Arts were worth $11,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EA. Pinnacle Bancorp Inc. raised its holdings in shares of Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after buying an additional 117 shares during the period. Whipplewood Advisors LLC acquired a new position in Electronic Arts in the 4th quarter valued at about $32,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts during the fourth quarter worth about $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of Electronic Arts during the fourth quarter worth about $41,000. Finally, Larson Financial Group LLC lifted its position in shares of Electronic Arts by 31.8% during the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on EA. Citigroup cut their target price on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $173.00 price objective on shares of Electronic Arts in a research report on Thursday, January 23rd. BNP Paribas lowered Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Monday, January 27th. DA Davidson started coverage on Electronic Arts in a report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price target on the stock. Finally, Moffett Nathanson upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $155.65.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total value of $713,400.00. Following the transaction, the chief executive officer now directly owns 42,615 shares of the company’s stock, valued at approximately $6,080,308.20. The trade was a 10.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.03, for a total transaction of $122,030.00. Following the completion of the sale, the insider now owns 28,216 shares of the company’s stock, valued at $3,443,198.48. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock valued at $3,166,740 in the last ninety days. Insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $144.50 on Wednesday. The stock has a market cap of $37.66 billion, a P/E ratio of 36.77, a P/E/G ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a 50 day moving average of $132.86 and a two-hundred day moving average of $144.61. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. On average, research analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

About Electronic Arts

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.