Sumitomo Life Insurance Co. Has $1 Million Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Sumitomo Life Insurance Co. trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,326 shares of the game software company’s stock after selling 390 shares during the period. Sumitomo Life Insurance Co.’s holdings in Electronic Arts were worth $1,002,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. DHJJ Financial Advisors Ltd. acquired a new stake in Electronic Arts during the 3rd quarter worth approximately $26,000. Bray Capital Advisors raised its holdings in Electronic Arts by 100.0% during the 3rd quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock worth $26,000 after buying an additional 110 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Electronic Arts during the 4th quarter worth approximately $26,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in Electronic Arts by 269.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock worth $29,000 after buying an additional 154,989 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Electronic Arts by 81.0% during the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock worth $31,000 after buying an additional 102 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research note on Wednesday, March 27th. BMO Capital Markets assumed coverage on shares of Electronic Arts in a research note on Tuesday, January 9th. They set an “outperform” rating and a $160.00 price target for the company. Stifel Nicolaus raised their price target on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Transactions at Electronic Arts

In other news, COO Laura Miele sold 2,000 shares of Electronic Arts stock in a transaction on Monday, April 1st. The stock was sold at an average price of $132.82, for a total transaction of $265,640.00. Following the completion of the sale, the chief operating officer now owns 34,772 shares of the company’s stock, valued at $4,618,417.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Laura Miele sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $132.82, for a total value of $265,640.00. Following the completion of the transaction, the chief operating officer now owns 34,772 shares of the company’s stock, valued at $4,618,417.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeff Huber sold 11,872 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $141.90, for a total value of $1,684,636.80. Following the completion of the transaction, the director now directly owns 79,381 shares of the company’s stock, valued at approximately $11,264,163.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,144 shares of company stock valued at $5,015,350. 0.20% of the stock is currently owned by corporate insiders.

Electronic Arts Trading Down 0.7 %

EA stock opened at $127.05 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33. The company has a fifty day moving average price of $135.66 and a two-hundred day moving average price of $134.33. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $144.53. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.77 and a beta of 0.76.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Electronic Arts Inc. will post 5.36 EPS for the current year.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Tuesday, February 27th. Electronic Arts’s dividend payout ratio is currently 19.14%.

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.