Handelsbanken Fonder AB Sells 3,829 Shares of Electronic Arts Inc. (NASDAQ:EA)

Handelsbanken Fonder AB decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,135 shares of the game software company’s stock after selling 3,829 shares during the period. Handelsbanken Fonder AB’s holdings in Electronic Arts were worth $11,285,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after buying an additional 373,730 shares during the period. abrdn plc raised its holdings in shares of Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after acquiring an additional 314,388 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Electronic Arts in the third quarter worth $40,154,000. Finally, Huntington National Bank boosted its holdings 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 valued at $36,993,000 after acquiring an additional 234,098 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Up 0.7 %

NASDAQ:EA opened at $130.93 on Friday. The firm has a 50-day simple moving average of $137.09 and a two-hundred day simple moving average of $146.24. The firm has a market cap of $34.12 billion, a P/E ratio of 33.32, a P/E/G ratio of 3.58 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, February 26th. Electronic Arts’s payout ratio is currently 19.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, January 31st. Robert W. Baird lowered their price objective on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. BNP Paribas cut Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Monday, January 27th. Benchmark decreased their target price on Electronic Arts from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, Argus lifted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $154.55.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the sale, the insider now owns 30,216 shares of the company’s stock, valued at $4,969,021.20. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $148.00, for a total value of $740,000.00. Following the completion of the transaction, the chief executive officer now directly owns 47,615 shares in the company, valued at approximately $7,047,020. This represents a 9.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,500 shares of company stock valued at $3,593,095 over the last ninety days. 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.