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

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 89,681 shares of the game software company’s stock, valued at approximately $10,377,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EA. Checchi Capital Advisers LLC increased its stake in shares of Electronic Arts by 2.2% during the third quarter. Checchi Capital Advisers LLC now owns 3,820 shares of the game software company’s stock valued at $442,000 after buying an additional 83 shares during the period. Synovus Financial Corp increased its stake in shares of Electronic Arts by 1.5% during the third quarter. Synovus Financial Corp now owns 5,673 shares of the game software company’s stock valued at $654,000 after buying an additional 85 shares during the period. Flputnam Investment Management Co. increased its stake in shares of Electronic Arts by 4.3% during the third quarter. Flputnam Investment Management Co. now owns 2,373 shares of the game software company’s stock valued at $275,000 after buying an additional 98 shares during the period. Mission Wealth Management LP increased its stake in shares of Electronic Arts by 1.6% during the third quarter. Mission Wealth Management LP now owns 6,183 shares of the game software company’s stock valued at $715,000 after buying an additional 99 shares during the period. Finally, McIlrath & Eck LLC increased its stake in shares of Electronic Arts by 24.4% during the third quarter. McIlrath & Eck LLC now owns 510 shares of the game software company’s stock valued at $59,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Electronic Arts Trading Up 1.9 %

Shares of NASDAQ:EA opened at $113.53 on Friday. Electronic Arts Inc. has a 12-month low of $108.53 and a 12-month high of $142.79. The company has a market capitalization of $31.34 billion, a PE ratio of 30.60, a PEG ratio of 8.20 and a beta of 0.86. The business has a 50 day moving average of $117.21 and a two-hundred day moving average of $122.19. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.25.

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

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 85,274 shares in the company, valued at $10,304,510.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $116.78, for a total transaction of $93,424.00. Following the completion of the sale, the insider now directly owns 25,355 shares in the company, valued at $2,960,956.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 85,274 shares of the company’s stock, valued at $10,304,510.16. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock worth $1,626,881 over the last three months. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EA has been the topic of several analyst reports. Truist Financial cut their target price on Electronic Arts from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. Credit Suisse Group cut their target price on Electronic Arts from $154.00 to $132.00 in a research note on Wednesday, February 1st. TheStreet lowered Electronic Arts from a “b-” rating to a “c+” rating in a research note on Thursday, February 23rd. Benchmark cut their target price on Electronic Arts from $188.00 to $150.00 in a research note on Tuesday, January 17th. Finally, Morgan Stanley cut their target price on Electronic Arts from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 1st. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $135.54.

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.