ING Groep NV Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

ING Groep NV decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 72.7% during the fourth quarter, Holdings Channel reports. The fund owned 32,527 shares of the game software company’s stock after selling 86,528 shares during the period. ING Groep NV’s holdings in Electronic Arts were worth $4,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EA. Robeco Institutional Asset Management B.V. grew its stake in shares of Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after buying an additional 373,730 shares during the last quarter. abrdn plc grew its stake in shares of Electronic Arts by 59.2% in the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company’s stock worth $123,484,000 after buying an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Electronic Arts by 8,503.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after buying an additional 314,388 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Electronic Arts in the 3rd quarter worth approximately $40,154,000. Finally, Huntington National Bank grew its stake in shares of Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after buying an additional 234,098 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $148.00, for a total value of $740,000.00. Following the completion of the sale, the chief executive officer now owns 47,615 shares in the company, valued at approximately $7,047,020. This represents a 9.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the sale, the insider now owns 30,216 shares of the company’s stock, valued at $4,969,021.20. The trade was a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,500 shares of company stock worth $3,593,095 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $130.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $34.12 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 3.54 and a beta of 0.79. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The business’s fifty day moving average price is $137.09 and its 200-day moving average price is $146.24.

Electronic Arts (NASDAQ:EA) last posted 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, equities analysts predict that Electronic Arts Inc. will post 4.75 earnings per share for the current year.

Electronic Arts Announces Dividend

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 paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.76 annualized dividend and a dividend yield of 0.58%. Electronic Arts’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus cut their price target on Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Bank of America upped 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. Citigroup lowered their price objective on Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. StockNews.com cut Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $154.55.

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.