Bridgewater Associates LP Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Bridgewater Associates LP cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 47.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 222,258 shares of the game software company’s stock after selling 201,642 shares during the period. Bridgewater Associates LP’s holdings in Electronic Arts were worth $31,881,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EA. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts during the third quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts during the 2nd quarter worth about $28,000. Family Firm Inc. acquired a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $33,000. New Covenant Trust Company N.A. acquired a new position in shares of Electronic Arts during the 1st quarter worth approximately $35,000. Finally, Reston Wealth Management LLC purchased a new position in Electronic Arts in the 3rd quarter valued at about $36,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $163.10 on Thursday. The business’s 50 day moving average price is $150.16 and its two-hundred day moving average price is $144.50. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $168.50. The company has a market cap of $42.78 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird increased their price target on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Argus raised their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group increased their price target on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, Roth Mkm boosted their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $163.30, for a total transaction of $244,950.00. Following the completion of the sale, the executive vice president now owns 23,360 shares in the company, valued at approximately $3,814,688. This represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the transaction, the chief executive officer now directly owns 54,247 shares in the company, valued at approximately $7,675,950.50. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $3,073,520 over the last three months. 0.22% of the stock is owned by insiders.

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.