State Board of Administration of Florida Retirement System Raises Stock Position in Electronic Arts Inc. $EA

State Board of Administration of Florida Retirement System boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 268,758 shares of the game software company’s stock after acquiring an additional 878 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Electronic Arts worth $42,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Salomon & Ludwin LLC increased its stake in shares of Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after purchasing an additional 68 shares in the last quarter. Bank of Jackson Hole Trust boosted its holdings in Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the last quarter. MTM Investment Management LLC purchased a new stake in Electronic Arts during the 2nd quarter worth approximately $30,000. Frazier Financial Advisors LLC raised its holdings in shares of Electronic Arts by 328.9% during the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after acquiring an additional 148 shares during the last quarter. Finally, NewSquare Capital LLC lifted its position in shares of Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after acquiring an additional 79 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the completion of the sale, the chief financial officer directly owned 5,595 shares of the company’s stock, valued at approximately $1,128,231.75. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $201.05, for a total transaction of $1,005,250.00. Following the completion of the sale, the chief executive officer owned 48,858 shares in the company, valued at approximately $9,822,900.90. This trade represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,369 shares of company stock valued at $27,307,702 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

EA has been the subject of several research reports. Argus set a $210.00 price target on Electronic Arts in a research report on Thursday, October 30th. DZ Bank lowered shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Jefferies Financial Group cut shares of Electronic Arts from a “buy” rating to a “hold” rating and increased their target price for the company from $200.00 to $210.00 in a research report on Tuesday, September 30th. Citigroup boosted their price target on shares of Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, DA Davidson upped their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $181.64.

Electronic Arts Trading Up 0.0%

Shares of EA opened at $201.93 on Friday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The firm has a market capitalization of $50.50 billion, a P/E ratio of 59.04, a P/E/G ratio of 3.04 and a beta of 0.74. The firm has a 50-day moving average price of $198.30 and a 200 day moving average price of $172.24. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25.

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

Electronic Arts Dividend Announcement

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

Electronic Arts 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.