Shell Asset Management Co. Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Shell Asset Management Co. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,299 shares of the game software company’s stock after selling 337 shares during the period. Shell Asset Management Co.’s holdings in Electronic Arts were worth $2,531,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EA. Pinnacle Bancorp Inc. boosted its holdings in shares of Electronic Arts by 141.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after purchasing an additional 117 shares during the period. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts in the fourth quarter worth about $37,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Electronic Arts in the fourth quarter worth about $41,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.64, for a total value of $224,460.00. Following the completion of the sale, the executive vice president now owns 17,533 shares of the company’s stock, valued at approximately $2,623,638.12. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the sale, the insider now directly owns 40,189 shares of the company’s stock, valued at approximately $6,252,202.73. This trade represents a 5.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,500 shares of company stock valued at $3,342,580. Company insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

Shares of EA opened at $151.54 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a market capitalization of $39.49 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The firm has a 50 day moving average of $144.51 and a 200 day moving average of $145.05.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Wednesday, May 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 17.92%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EA. TD Cowen raised their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. BMO Capital Markets lowered their price objective on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Wedbush raised their target price on shares of Electronic Arts from $179.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Robert W. Baird set a $168.00 target price on shares of Electronic Arts in a report on Wednesday, May 7th. Finally, Oppenheimer lifted their target price on shares of Electronic Arts from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.83.

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.