Bridgewater Associates LP Sells 201,642 Shares of Electronic Arts Inc. (NASDAQ:EA)

Bridgewater Associates LP trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 47.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,258 shares of the game software company’s stock after selling 201,642 shares during the quarter. Bridgewater Associates LP owned 0.08% of Electronic Arts worth $31,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in shares of Electronic Arts in the 2nd quarter worth $188,159,000. D. E. Shaw & Co. Inc. lifted its holdings in Electronic Arts by 43.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after purchasing an additional 420,382 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Electronic Arts by 214.8% during the second quarter. National Bank of Canada FI now owns 533,548 shares of the game software company’s stock worth $73,264,000 after acquiring an additional 364,044 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Electronic Arts by 29.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock valued at $215,725,000 after purchasing an additional 354,005 shares in the last quarter. Finally, abrdn plc raised its holdings in Electronic Arts by 59.2% during the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after buying an additional 319,335 shares during the period. 90.23% of the stock is owned by institutional investors.

Electronic Arts Trading Down 1.2 %

Electronic Arts stock opened at $163.10 on Thursday. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 2.14 and a beta of 0.78. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $168.50. The firm has a 50-day moving average of $150.16 and a 200-day moving average of $144.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the sale, the insider now owns 30,190 shares in the company, valued at $4,579,823. This represents a 3.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $3,073,520 over the last three months. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on EA shares. JPMorgan Chase & Co. cut their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of Electronic Arts in a report on Friday, October 25th. Finally, Robert W. Baird increased their target price on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

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.