Cornercap Investment Counsel Inc. Sells 385 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cornercap Investment Counsel Inc. cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,205 shares of the game software company’s stock after selling 385 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Electronic Arts were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB raised its stake in shares of Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after acquiring an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in Electronic Arts during the fourth quarter worth about $217,000. Charles Schwab Investment Management Inc. boosted its stake in Electronic Arts by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock worth $213,089,000 after purchasing an additional 36,153 shares in the last quarter. Fisher Funds Management LTD bought a new position in shares of Electronic Arts during the fourth quarter valued at $3,730,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $13,845,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Trading Down 0.7 %

Shares of EA opened at $144.25 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $37.59 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 3.58 and a beta of 0.78. The company has a 50-day moving average of $133.05 and a 200 day moving average of $144.62. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last announced 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%. On average, research analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis 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%.

Analyst Ratings Changes

Several research analysts have issued reports on EA shares. Oppenheimer dropped their target price on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird lowered their target price on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets lowered their price objective on Electronic Arts from $145.00 to $142.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Roth Mkm lowered their price target on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Benchmark increased their price objective on shares of Electronic Arts from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.65.

Insiders Place Their Bets

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the completion of the transaction, the executive vice president now directly owns 23,386 shares in the company, valued at $3,354,721.70. The trade was a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.03, for a total value of $122,030.00. Following the completion of the sale, the insider now owns 28,216 shares in the company, valued at $3,443,198.48. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock worth $3,018,560 in the last three months. Corporate insiders own 0.22% of the company’s stock.

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.