KBC Group NV Sells 5,703 Shares of Electronic Arts Inc. (NASDAQ:EA)

KBC Group NV cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 6.8% in the third quarter, HoldingsChannel.com reports. The fund owned 77,854 shares of the game software company’s stock after selling 5,703 shares during the period. KBC Group NV’s holdings in Electronic Arts were worth $11,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC boosted its position in Electronic Arts by 5.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after purchasing an additional 76 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Electronic Arts by 2.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after buying an additional 79 shares during the last quarter. Shepherd Financial Partners LLC grew its position in Electronic Arts by 1.6% during the third quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock valued at $816,000 after buying an additional 88 shares during the period. Grove Bank & Trust increased its holdings in Electronic Arts by 23.5% during the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after buying an additional 94 shares during the last quarter. Finally, CWM LLC raised its position in Electronic Arts by 1.5% in the third quarter. CWM LLC now owns 6,302 shares of the game software company’s stock worth $904,000 after acquiring an additional 95 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EA has been the subject of a number of recent research reports. StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Roth Mkm increased their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.37.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the transaction, the insider now owns 30,190 shares in the company, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the sale, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Down 1.7 %

Shares of NASDAQ EA opened at $161.36 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $164.42. The firm’s 50-day moving average price is $147.17 and its 200-day moving average price is $142.55. The stock has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 2.13 and a beta of 0.78.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

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.