Massachusetts Financial Services Co. MA Cuts Position in Electronic Arts Inc. $EA

Massachusetts Financial Services Co. MA reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,222,237 shares of the game software company’s stock after selling 50,844 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Electronic Arts were worth $354,891,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in Electronic Arts by 197.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock worth $421,524,000 after acquiring an additional 1,936,313 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Electronic Arts during the first quarter worth about $225,102,000. Nuveen LLC purchased a new stake in Electronic Arts during the first quarter worth about $203,537,000. Goldman Sachs Group Inc. lifted its position in shares of Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock worth $470,197,000 after purchasing an additional 1,254,194 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Electronic Arts by 176.6% in the second quarter. Acadian Asset Management LLC now owns 1,862,898 shares of the game software company’s stock valued at $297,465,000 after purchasing an additional 1,189,455 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Electronic Arts stock opened at $201.06 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $192.22 and a 200-day simple moving average of $168.90. The stock has a market cap of $50.15 billion, a P/E ratio of 58.79, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. Equities analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is presently 22.22%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the transaction, the executive vice president directly owned 26,080 shares in the company, valued at $4,473,241.60. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $171.69, for a total transaction of $429,225.00. Following the sale, the insider directly owned 55,592 shares in the company, valued at approximately $9,544,590.48. The trade was a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,200 shares of company stock valued at $7,149,882 over the last three months. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EA shares. Hsbc Global Res lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Bank of America upped their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a research note on Wednesday, October 8th. DZ Bank cut Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Finally, Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price target on the stock in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.64.

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.