Mackenzie Financial Corp Reduces Stake in Electronic Arts Inc. (NASDAQ:EA)

Mackenzie Financial Corp trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 130,233 shares of the game software company’s stock after selling 1,752 shares during the quarter. Mackenzie Financial Corp’s holdings in Electronic Arts were worth $17,817,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EA. Cetera Advisor Networks LLC increased its stake in shares of Electronic Arts by 11.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,466 shares of the game software company’s stock worth $439,000 after purchasing an additional 363 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Electronic Arts by 8.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,459 shares of the game software company’s stock valued at $564,000 after buying an additional 347 shares during the last quarter. Cibc World Market Inc. increased its position in Electronic Arts by 3.8% during the first quarter. Cibc World Market Inc. now owns 14,997 shares of the game software company’s stock worth $1,897,000 after buying an additional 548 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Electronic Arts by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 866,675 shares of the game software company’s stock worth $109,653,000 after acquiring an additional 13,934 shares during the last quarter. Finally, Prudential PLC raised its holdings in shares of Electronic Arts by 208.9% in the first quarter. Prudential PLC now owns 14,112 shares of the game software company’s stock worth $1,785,000 after acquiring an additional 9,544 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $138.88, for a total value of $347,200.00. Following the transaction, the chief executive officer now directly owns 30,930 shares of the company’s stock, valued at $4,295,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total value of $109,944.00. Following the completion of the transaction, the insider now directly owns 28,683 shares in the company, valued at $3,941,904.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total transaction of $347,200.00. Following the sale, the chief executive officer now directly owns 30,930 shares in the company, valued at approximately $4,295,558.40. The disclosure for this sale can be found here. In the last three months, insiders sold 37,144 shares of company stock valued at $5,143,560. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $162.00 price objective on shares of Electronic Arts in a research note on Wednesday, January 31st. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. BMO Capital Markets began coverage on shares of Electronic Arts in a research note on Tuesday, January 9th. They set an “outperform” rating and a $160.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $153.00 target price on shares of Electronic Arts in a research note on Thursday. Finally, UBS Group cut their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Electronic Arts Price Performance

EA stock opened at $125.63 on Friday. The company has a market cap of $33.59 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $135.02 and a two-hundred day moving average price of $134.25. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $144.53.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. As a group, research analysts predict that Electronic Arts Inc. will post 5.36 EPS for the current year.

Electronic Arts Dividend Announcement

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

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.