State of Michigan Retirement System Sells 1,000 Shares of Electronic Arts Inc. (NASDAQ:EA)

State of Michigan Retirement System trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 67,454 shares of the game software company’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Electronic Arts were worth $9,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Electronic Arts in the 3rd quarter valued at $25,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after buying an additional 117 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Electronic Arts during the fourth quarter valued at about $32,000. SBI Securities Co. Ltd. purchased a new stake in Electronic Arts during the fourth quarter worth about $41,000. Finally, Larson Financial Group LLC raised its position in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after acquiring an additional 70 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EA shares. StockNews.com downgraded shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. DA Davidson started coverage on Electronic Arts in a report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price objective for the company. Argus boosted their target price on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America increased their price target on Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Citigroup decreased their price objective on Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts currently has an average rating of “Hold” and an average price target of $154.78.

Electronic Arts Price Performance

Electronic Arts stock opened at $134.05 on Thursday. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 3.58 and a beta of 0.79. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $134.07 and a 200 day simple moving average of $145.39. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, research analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 26th. Electronic Arts’s dividend payout ratio is currently 19.34%.

Insider Buying and Selling

In related news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Monday, December 16th. The shares were sold at an average price of $156.27, for a total value of $234,405.00. Following the transaction, the executive vice president now owns 24,886 shares in the company, valued at $3,888,935.22. This trade represents a 5.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.03, for a total transaction of $122,030.00. Following the completion of the sale, the insider now directly owns 28,216 shares of the company’s stock, valued at $3,443,198.48. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,500 shares of company stock worth $3,428,645. Corporate insiders own 0.22% of the company’s stock.

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.