Carnegie Investment Counsel Sells 785 Shares of Electronic Arts Inc. (NASDAQ:EA)

Carnegie Investment Counsel lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,810 shares of the game software company’s stock after selling 785 shares during the quarter. Carnegie Investment Counsel’s holdings in Electronic Arts were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors raised its holdings in Electronic Arts by 5.2% in the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company’s stock worth $1,778,553,000 after purchasing an additional 605,796 shares in the last quarter. Geode Capital Management LLC raised its holdings in Electronic Arts by 0.5% in the fourth 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Electronic Arts by 6.5% in the fourth 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 in the last quarter. Northern Trust Corp raised its holdings in Electronic Arts by 12.4% in the fourth 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in Electronic Arts by 3.9% in the fourth 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 in the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the sale, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $152.21, for a total transaction of $761,050.00. Following the sale, the chief executive officer owned 57,393 shares in the company, valued at approximately $8,735,788.53. The trade was a 8.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock worth $4,822,884 in the last 90 days. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HSBC upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. UBS Group increased their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Benchmark increased their target price on Electronic Arts from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group increased their target price on Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Citigroup reissued a “neutral” rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Fourteen research 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. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.71.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $151.68 on Friday. The firm’s 50 day moving average price is $151.04 and its 200-day moving average price is $142.88. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $38.11 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.07 and a beta of 0.73.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts’s payout ratio is 17.92%.

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.