Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,749 shares of the game software company’s stock after selling 1,584 shares during the quarter. Kentucky Retirement Systems’ holdings in Electronic Arts were worth $2,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Electronic Arts in the 3rd quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the 2nd quarter valued at about $28,000. Family Firm Inc. purchased a new stake in shares of Electronic Arts in the second quarter valued at about $33,000. Reston Wealth Management LLC acquired a new stake in Electronic Arts during the third quarter worth about $36,000. Finally, Gradient Investments LLC raised its stake in Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the completion of the transaction, the executive vice president now owns 27,860 shares in the company, valued at approximately $4,160,055.20. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,884 shares of company stock worth $3,699,335. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Trading Down 1.7 %

NASDAQ:EA opened at $161.36 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $164.42. The stock has a market cap of $42.32 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.11 and a beta of 0.78. The stock has a 50-day simple moving average of $147.17 and a 200-day simple moving average of $142.65.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Wall Street Analyst Weigh In

EA has been the subject of a number of recent analyst reports. Raymond James raised their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. BNP Paribas raised Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Company 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.