Fort L.P. Sells 97 Shares of Electronic Arts Inc. (NASDAQ:EA)

Fort L.P. decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,729 shares of the game software company’s stock after selling 97 shares during the quarter. Fort L.P.’s holdings in Electronic Arts were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in EA. Vanguard Group Inc. boosted its holdings in shares of Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after purchasing an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB purchased a new position in shares of Electronic Arts in the 1st quarter worth approximately $201,935,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Electronic Arts in the 1st quarter worth approximately $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Electronic Arts in the 2nd quarter worth approximately $188,159,000. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EA shares. Morgan Stanley restated an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Oppenheimer boosted their price objective on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Jefferies Financial Group started coverage on Electronic Arts in a report on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective for the company. Benchmark restated a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday. Finally, DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and lifted their target price for the company from $135.00 to $177.00 in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.39.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the transaction, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,120,638.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the transaction, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,120,638.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total value of $150,830.00. Following the completion of the sale, the insider now directly owns 28,190 shares of the company’s stock, valued at approximately $4,251,897.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,644 shares of company stock worth $3,491,207. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

Shares of EA traded up $0.41 during mid-day trading on Friday, reaching $151.26. The company had a trading volume of 1,954,157 shares, compared to its average volume of 1,665,278. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $153.51. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $39.96 billion, a P/E ratio of 38.88, a PEG ratio of 2.05 and a beta of 0.78. The stock has a 50 day moving average of $144.96 and a two-hundred day moving average of $140.19.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. Electronic Arts’s dividend payout ratio is currently 19.54%.

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.