Handelsbanken Fonder AB Has $8.71 Million Stake in Electronic Arts Inc. (NASDAQ:EA)

Handelsbanken Fonder AB trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 21.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 60,263 shares of the game software company’s stock after selling 16,872 shares during the period. Handelsbanken Fonder AB’s holdings in Electronic Arts were worth $8,709,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EA. Brighton Jones LLC increased its holdings in Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after buying an additional 294 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Electronic Arts by 43.6% during the fourth quarter. Apollon Wealth Management LLC now owns 5,055 shares of the game software company’s stock worth $740,000 after buying an additional 1,536 shares during the last quarter. Empowered Funds LLC increased its holdings in Electronic Arts by 32.4% during the fourth quarter. Empowered Funds LLC now owns 7,230 shares of the game software company’s stock worth $1,058,000 after buying an additional 1,771 shares during the last quarter. Stephens Inc. AR increased its holdings in Electronic Arts by 12.3% during the fourth quarter. Stephens Inc. AR now owns 5,337 shares of the game software company’s stock worth $781,000 after buying an additional 585 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Electronic Arts by 84.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,805 shares of the game software company’s stock worth $849,000 after buying an additional 2,661 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on EA. Wedbush upped their price objective on shares of Electronic Arts from $179.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. TD Cowen upped their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Argus set a $170.00 price objective on shares of Electronic Arts in a report on Friday, May 16th. Finally, Hsbc Global Res upgraded shares of Electronic Arts from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $161.88.

Electronic Arts Trading Up 1.6%

EA opened at $150.05 on Friday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a 50-day simple moving average of $146.56 and a 200 day simple moving average of $143.40. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 3.58 and a beta of 0.71.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.51%. Electronic Arts’s dividend payout ratio is 17.92%.

Insider Buying and Selling

In other news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total value of $151,320.00. Following the completion of the transaction, the chief financial officer now owns 14,533 shares of the company’s stock, valued at approximately $2,199,133.56. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 6,563 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total transaction of $992,194.34. Following the completion of the transaction, the chief executive officer now directly owns 70,059 shares of the company’s stock, valued at $10,591,519.62. This trade represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock valued at $4,107,664 over the last quarter. 0.22% of the stock is owned by company insiders.

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.