Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.4% in the fourth quarter, Holdings Channel reports. The firm owned 247,311 shares of the game software company’s stock after selling 893 shares during the period. Electronic Arts comprises 1.8% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 27th largest holding. Cornerstone Investment Partners LLC’s holdings in Electronic Arts were worth $36,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Los Angeles Capital Management LLC boosted its stake in shares of Electronic Arts by 353.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company’s stock valued at $185,692,000 after buying an additional 989,319 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Electronic Arts by 51.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after buying an additional 373,730 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after purchasing an additional 314,388 shares during the period. Huntington National Bank increased its holdings in shares of Electronic Arts by 983.4% in the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after purchasing an additional 234,098 shares during the period. Finally, Anchor Capital Advisors LLC increased its holdings in shares of Electronic Arts by 5,606.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 219,013 shares of the game software company’s stock valued at $32,042,000 after purchasing an additional 215,175 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Electronic Arts stock opened at $129.23 on Tuesday. The firm has a market capitalization of $33.68 billion, a P/E ratio of 32.88, a PEG ratio of 3.58 and a beta of 0.79. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $134.72 and a 200 day moving average price of $145.59. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50.

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

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.59%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.34%.

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $130.83, for a total value of $327,075.00. Following the completion of the transaction, the insider now owns 47,514 shares of the company’s stock, valued at approximately $6,216,256.62. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $130.11, for a total value of $130,110.00. Following the transaction, the chief financial officer now directly owns 9,516 shares in the company, valued at approximately $1,238,126.76. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,500 shares of company stock worth $3,428,645. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. DA Davidson initiated coverage on Electronic Arts in a report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 target price on the stock. Argus lifted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Moffett Nathanson upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, January 31st. Robert W. Baird decreased their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Bank of America lifted their price target on Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $154.78.

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.