Franklin Resources Inc. Sells 24,515 Shares of Electronic Arts Inc. $EA

Franklin Resources Inc. lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 5.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 461,576 shares of the game software company’s stock after selling 24,515 shares during the period. Franklin Resources Inc.’s holdings in Electronic Arts were worth $94,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its holdings in Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after buying an additional 69 shares during the period. Fideuram Asset Management Ireland dac bought a new stake in Electronic Arts in the 4th quarter valued at $44,000. Salomon & Ludwin LLC increased its holdings in Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after buying an additional 57 shares during the period. Asset Dedication LLC increased its holdings in Electronic Arts by 333.3% in the 3rd quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock valued at $52,000 after buying an additional 200 shares during the period. Finally, Washington Trust Advisors Inc. increased its holdings in Electronic Arts by 32.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 284 shares of the game software company’s stock valued at $57,000 after buying an additional 70 shares during the period. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EA. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Citigroup boosted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $196.64.

Electronic Arts Stock Up 0.4%

Shares of NASDAQ:EA opened at $203.20 on Thursday. Electronic Arts Inc. has a 52 week low of $145.54 and a 52 week high of $204.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average is $202.26 and its 200-day moving average is $202.33. The company has a market capitalization of $50.95 billion, a PE ratio of 58.22, a P/E/G ratio of 2.26 and a beta of 0.65.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s payout ratio is currently 21.78%.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.66, for a total value of $1,021,609.56. Following the sale, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $200.54, for a total transaction of $501,350.00. Following the transaction, the insider owned 40,843 shares in the company, valued at approximately $8,190,655.22. This trade represents a 5.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,906 shares of company stock worth $8,032,336 in the last three months. Company insiders own 0.24% of the company’s stock.

Electronic Arts Company Profile

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.