Primecap Management Co. CA Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

Primecap Management Co. CA cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 710,130 shares of the game software company’s stock after selling 34,640 shares during the period. Primecap Management Co. CA’s holdings in Electronic Arts were worth $101,861,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Electronic Arts during the third quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the 2nd quarter worth $28,000. Family Firm Inc. acquired a new position in Electronic Arts in the second quarter valued at $33,000. New Covenant Trust Company N.A. purchased a new stake in shares of Electronic Arts in the first quarter valued at about $35,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts during the third quarter worth about $36,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Electronic Arts stock opened at $168.08 on Friday. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $168.07. The company has a market capitalization of $44.08 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 2.17 and a beta of 0.78. The stock has a fifty day moving average of $148.94 and a two-hundred day moving average of $143.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $160.00 price objective (up previously from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Eight research 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 company’s stock. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Insider Buying and Selling at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Friday, November 15th. The stock was sold at an average price of $163.30, for a total value of $244,950.00. Following the completion of the sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,814,688. The trade was a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares in the company, valued at $8,758,819.05. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,384 shares of company stock worth $4,776,635. Corporate insiders own 0.22% of the company’s stock.

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.