Sumitomo Mitsui Trust Holdings Inc. Sells 27,620 Shares of Electronic Arts Inc. (NASDAQ:EA)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 688,868 shares of the game software company’s stock after selling 27,620 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Electronic Arts were worth $91,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cape Investment Advisory Inc. boosted its stake in shares of Electronic Arts by 102.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Electronic Arts in the 4th quarter worth about $30,000. Private Wealth Management Group LLC bought a new stake in Electronic Arts in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC lifted its holdings in Electronic Arts by 81.0% during the fourth quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock valued at $31,000 after purchasing an additional 102 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Electronic Arts in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $138.67 on Friday. The firm has a market cap of $36.85 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.20 and a beta of 0.79. The company’s fifty day simple moving average is $133.59 and its two-hundred day simple moving average is $134.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $144.53.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.78 billion. Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. As a group, equities analysts expect that Electronic Arts Inc. will post 5.72 EPS for the current year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, May 29th. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total value of $401,250.00. Following the completion of the sale, the chief accounting officer now directly owns 7,458 shares in the company, valued at $997,507.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total value of $401,250.00. Following the completion of the transaction, the chief accounting officer now owns 7,458 shares in the company, valued at $997,507.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares in the company, valued at $5,389,173.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,039 shares of company stock valued at $3,065,356. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EA has been the subject of several analyst reports. Roth Mkm cut their target price on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and set a $150.00 price objective on shares of Electronic Arts in a research note on Friday, June 21st. Benchmark reiterated a “buy” rating and set a $153.00 price target on shares of Electronic Arts in a research report on Thursday, April 18th. StockNews.com upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts presently has an average rating of “Moderate Buy” and an average price target of $147.50.

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.