Jupiter Asset Management Ltd. Lowers Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Jupiter Asset Management Ltd. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 476,480 shares of the game software company’s stock after selling 118,359 shares during the period. Jupiter Asset Management Ltd.’s holdings in Electronic Arts were worth $66,388,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. North Star Investment Management Corp. boosted its holdings in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in shares of Electronic Arts by 102.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the 2nd quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in Electronic Arts in the 1st quarter valued at approximately $30,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird upped their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer increased their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Bank of America lifted their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Benchmark increased their target price on Electronic Arts from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.28.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total value of $350,650.00. Following the transaction, the chief executive officer now owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The disclosure for this sale can be found here. Insiders sold 27,070 shares of company stock valued at $3,963,638 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

EA opened at $143.70 on Thursday. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The company’s 50 day simple moving average is $145.99 and its 200 day simple moving average is $137.56. The stock has a market capitalization of $38.19 billion, a PE ratio of 30.71, a P/E/G ratio of 2.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

About Electronic Arts

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.