89,681 Shares in Electronic Arts Inc. (NASDAQ:EA) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 89,681 shares of the game software company’s stock, valued at approximately $10,377,000.

Several other hedge funds have also recently bought and sold shares of EA. Power Corp of Canada purchased a new stake in Electronic Arts during the 3rd quarter worth about $226,000. Industrial Alliance Investment Management Inc. increased its holdings in Electronic Arts by 1.9% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 28,937 shares of the game software company’s stock worth $3,348,000 after purchasing an additional 541 shares during the period. River & Mercantile Asset Management LLP purchased a new stake in Electronic Arts during the 3rd quarter worth about $1,811,000. M&T Bank Corp increased its holdings in Electronic Arts by 0.8% during the 3rd quarter. M&T Bank Corp now owns 93,315 shares of the game software company’s stock worth $10,798,000 after purchasing an additional 755 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in Electronic Arts by 19.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 266,435 shares of the game software company’s stock worth $30,828,000 after purchasing an additional 43,796 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EA. KeyCorp dropped their price objective on Electronic Arts from $155.00 to $138.00 and set an “overweight” rating on the stock in a report on Wednesday, February 1st. Benchmark dropped their price objective on Electronic Arts from $188.00 to $150.00 in a report on Tuesday, January 17th. Wells Fargo & Company dropped their price objective on Electronic Arts from $150.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 1st. Wedbush dropped their price objective on Electronic Arts from $164.00 to $139.00 in a report on Wednesday, February 1st. Finally, Robert W. Baird dropped their price target on Electronic Arts from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.54.

Electronic Arts Stock Up 1.9 %

EA opened at $113.53 on Friday. The business has a 50 day simple moving average of $117.21 and a 200-day simple moving average of $122.19. The stock has a market capitalization of $31.34 billion, a P/E ratio of 30.60, a P/E/G ratio of 8.20 and a beta of 0.86. Electronic Arts Inc. has a 12 month low of $108.53 and a 12 month high of $142.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.23 and a quick ratio of 1.23.

Electronic Arts (NASDAQ:EA – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The game software company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($1.89). The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.50 billion. Electronic Arts had a return on equity of 14.38% and a net margin of 14.08%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 earnings per share. On average, equities analysts anticipate that Electronic Arts Inc. will post 4.44 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.76 annualized dividend and a yield of 0.67%. Electronic Arts’s dividend payout ratio is presently 20.49%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer now owns 85,274 shares of the company’s stock, valued at $10,304,510.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Electronic Arts news, COO Laura Miele sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $123.59, for a total transaction of $185,385.00. Following the completion of the transaction, the chief operating officer now owns 31,082 shares of the company’s stock, valued at $3,841,424.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the transaction, the chief executive officer now directly owns 85,274 shares of the company’s stock, valued at approximately $10,304,510.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,100 shares of company stock valued at $1,626,881. 0.37% of the stock is owned by insiders.

Electronic Arts Company Profile

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Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.