Burgundy Asset Management Ltd. Lowers Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Burgundy Asset Management Ltd. trimmed its stake in Electronic Arts Inc. (NASDAQ:EA) by 9.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,307,108 shares of the game software company’s stock after selling 128,573 shares during the period. Electronic Arts makes up about 1.9% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 13th biggest position. Burgundy Asset Management Ltd.’s holdings in Electronic Arts were worth $191,230,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in Electronic Arts by 5.2% in the 4th quarter. Capital International Investors now owns 12,156,791 shares of the game software company’s stock valued at $1,778,553,000 after buying an additional 605,796 shares during the period. Geode Capital Management LLC lifted its position in shares of Electronic Arts by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company’s stock worth $978,650,000 after purchasing an additional 30,929 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Electronic Arts by 6.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company’s stock worth $648,169,000 after purchasing an additional 270,991 shares during the period. Northern Trust Corp lifted its position in shares of Electronic Arts by 12.4% in the 4th quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company’s stock worth $476,540,000 after purchasing an additional 360,563 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Electronic Arts by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company’s stock worth $472,362,000 after purchasing an additional 120,632 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EA has been the subject of several research reports. Bank of America upped their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. HSBC raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Wednesday, May 7th. Benchmark upped their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Roth Mkm lowered their price target on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.29.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 2,666 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total value of $402,379.38. Following the sale, the chief executive officer now owns 67,393 shares in the company, valued at $10,171,625.49. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 26,216 shares in the company, valued at $3,801,320. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,729 shares of company stock valued at $4,107,664. Insiders own 0.22% of the company’s stock.

Electronic Arts Trading Down 2.6%

NASDAQ EA opened at $146.63 on Friday. The company has a fifty day simple moving average of $145.39 and a two-hundred day simple moving average of $145.02. The stock has a market cap of $36.77 billion, a P/E ratio of 37.31, a P/E/G ratio of 3.58 and a beta of 0.74. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio is currently 17.92%.

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.