Vestcor Inc Sells 2,276 Shares of Electronic Arts Inc. (NASDAQ:EA)

Vestcor Inc cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,963 shares of the game software company’s stock after selling 2,276 shares during the period. Vestcor Inc’s holdings in Electronic Arts were worth $15,502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Atria Investments Inc grew its holdings in Electronic Arts by 86.5% during the 3rd quarter. Atria Investments Inc now owns 12,362 shares of the game software company’s stock worth $1,773,000 after acquiring an additional 5,733 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Electronic Arts during the 3rd quarter worth about $25,000. Versor Investments LP bought a new position in Electronic Arts during the 3rd quarter worth about $250,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Electronic Arts by 51.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 9,683 shares of the game software company’s stock worth $1,389,000 after acquiring an additional 3,281 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in Electronic Arts by 5.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after acquiring an additional 76 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Friday, December 20th. The shares were sold at an average price of $148.00, for a total transaction of $740,000.00. Following the sale, the chief executive officer now owns 47,615 shares of the company’s stock, valued at $7,047,020. The trade was a 9.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Monday, December 16th. The stock was sold at an average price of $156.27, for a total value of $234,405.00. Following the transaction, the executive vice president now owns 24,886 shares in the company, valued at approximately $3,888,935.22. This represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,500 shares of company stock valued at $3,428,645 in the last 90 days. 0.22% of the stock is owned by insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $136.12 on Thursday. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The firm’s 50 day simple moving average is $133.17 and its 200-day simple moving average is $145.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38.

Electronic Arts (NASDAQ:EA) last released its quarterly 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%. Analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 yield of 0.56%. Electronic Arts’s dividend payout ratio is currently 19.34%.

Wall Street Analyst Weigh In

EA has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. StockNews.com cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 5th. Bank of America raised their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Citigroup decreased their price objective on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, BMO Capital Markets decreased their price objective on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Thirteen equities research 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 presently has an average rating of “Hold” and a consensus target price 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.