Capital Group Private Client Services Inc. Sells 146,171 Shares of Electronic Arts Inc. $EA

Capital Group Private Client Services Inc. lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 69.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,427 shares of the game software company’s stock after selling 146,171 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Electronic Arts were worth $12,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in EA. Ameriprise Financial Inc. grew its position in Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after buying an additional 1,300,336 shares during the period. State Street Corp boosted its stake in Electronic Arts by 5.8% in the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock valued at $2,726,552,000 after acquiring an additional 932,024 shares during the last quarter. Man Group plc increased its stake in shares of Electronic Arts by 165.5% during the 2nd quarter. Man Group plc now owns 1,279,249 shares of the game software company’s stock worth $204,296,000 after purchasing an additional 797,461 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Electronic Arts by 50.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock worth $377,726,000 after purchasing an additional 791,978 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Electronic Arts by 26.3% in the 3rd quarter. First Trust Advisors LP now owns 3,069,543 shares of the game software company’s stock worth $619,127,000 after purchasing an additional 638,667 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on EA shares. Citigroup decreased their target price on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Zacks Research cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $188.30.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $199.50, for a total value of $997,500.00. Following the completion of the sale, the chief executive officer owned 33,858 shares of the company’s stock, valued at $6,754,671. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $200.63, for a total transaction of $240,756.00. Following the completion of the sale, the insider owned 31,160 shares of the company’s stock, valued at approximately $6,251,630.80. The trade was a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 27,600 shares of company stock valued at $5,589,823. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Up 0.6%

Shares of NASDAQ EA opened at $199.27 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $49.87 billion, a P/E ratio of 74.91, a P/E/G ratio of 2.36 and a beta of 0.75. Electronic Arts Inc. has a 52 week low of $131.15 and a 52 week high of $204.88. The business has a 50-day simple moving average of $202.32 and a two-hundred day simple moving average of $196.50.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is presently 28.57%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.