Kentucky Retirement Systems Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Kentucky Retirement Systems reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,749 shares of the game software company’s stock after selling 1,584 shares during the period. Kentucky Retirement Systems’ holdings in Electronic Arts were worth $2,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the 2nd quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in shares of Electronic Arts in the second quarter worth $33,000. Reston Wealth Management LLC purchased a new stake in shares of Electronic Arts in the third quarter valued at $36,000. Finally, Gradient Investments LLC increased its position in Electronic Arts by 592.1% during the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the topic of several analyst reports. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Argus lifted their target price on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $177.00 in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $161.36 on Monday. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $164.42. The business has a 50-day moving average of $147.17 and a 200-day moving average of $142.65.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 0.47%. Electronic Arts’s payout ratio is currently 19.54%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 4.41 % 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 company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the transaction, the insider now directly owns 30,190 shares in the company, valued at approximately $4,579,823. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,884 shares of company stock worth $3,699,335. 0.22% of the stock is currently owned by company insiders.

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.