Cornerstone Investment Partners LLC Cuts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Cornerstone Investment Partners LLC cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,311 shares of the game software company’s stock after selling 893 shares during the quarter. Electronic Arts comprises approximately 1.8% of Cornerstone Investment Partners LLC’s holdings, making the stock its 27th largest holding. Cornerstone Investment Partners LLC owned approximately 0.09% of Electronic Arts worth $36,182,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its position in Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after buying an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in Electronic Arts in the fourth quarter worth $217,000. Huntington National Bank lifted its position in Electronic Arts by 983.4% in the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after buying an additional 234,098 shares during the last quarter. Fisher Funds Management LTD bought a new stake in Electronic Arts in the fourth quarter worth $3,730,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in Electronic Arts in the fourth quarter worth $13,845,000. 90.23% of the stock is currently owned by institutional investors.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $130.14, for a total value of $650,700.00. Following the completion of the sale, the chief executive officer now directly owns 37,615 shares of the company’s stock, valued at $4,895,216.10. This trade represents a 11.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the sale, the insider now directly owns 29,216 shares of the company’s stock, valued at $4,311,405.12. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,500 shares of company stock valued at $3,428,645. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on EA shares. Ascendiant Capital Markets lifted their target price on Electronic Arts from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets decreased their target price on 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. Roth Mkm decreased their target price on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Oppenheimer decreased their target price on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Finally, Raymond James downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.78.

Electronic Arts Trading Up 0.1 %

Shares of NASDAQ:EA opened at $129.23 on Tuesday. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The firm has a market capitalization of $33.68 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. 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 business’s 50 day moving average price is $134.72 and its 200-day moving average price is $145.59.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data 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, equities research analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed 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. This represents a $0.76 annualized dividend and a yield of 0.59%. The ex-dividend date is Wednesday, February 26th. Electronic Arts’s dividend payout ratio is currently 19.34%.

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.