Texas Permanent School Fund Corp Sells 10,072 Shares of Electronic Arts Inc. (NASDAQ:EA)

Texas Permanent School Fund Corp lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 20.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 40,222 shares of the game software company’s stock after selling 10,072 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Electronic Arts were worth $5,604,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. North Star Investment Management Corp. boosted its holdings in shares of Electronic Arts by 333.3% in the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Cape Investment Advisory Inc. lifted its position in Electronic Arts by 102.0% in the fourth 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. Redmont Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the second quarter worth $28,000. Finally, YHB Investment Advisors Inc. bought a new position in Electronic Arts during the first quarter valued at $30,000. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the subject of several analyst reports. Bank of America raised their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upped their target price on Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Oppenheimer raised their price target on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, BMO Capital Markets restated an “outperform” rating and set a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and an average price target of $161.28.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the transaction, the insider now owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total value of $350,650.00. Following the sale, the chief executive officer now owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the transaction, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The disclosure for this sale can be found here. Insiders have sold a total of 27,070 shares of company stock worth $3,963,638 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $144.75 on Friday. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The firm has a 50 day moving average of $146.11 and a 200 day moving average of $137.61. The company has a market capitalization of $38.47 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side analysts predict that Electronic Arts Inc. will post 5.88 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s payout ratio is 16.24%.

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.