Bessemer Group Inc. Sells 14,471 Shares of Electronic Arts Inc. (NASDAQ:EA)

Bessemer Group Inc. cut its position in Electronic Arts Inc. (NASDAQ:EA) by 69.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,355 shares of the game software company’s stock after selling 14,471 shares during the quarter. Bessemer Group Inc.’s holdings in Electronic Arts were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in shares of Electronic Arts during the 4th quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts during the 1st quarter worth $28,000. LGT Financial Advisors LLC bought a new stake in shares of Electronic Arts during the 4th quarter worth $33,000. Millstone Evans Group LLC bought a new stake in shares of Electronic Arts during the 4th quarter worth $37,000. Finally, American National Bank & Trust bought a new stake in shares of Electronic Arts during the 1st quarter worth $40,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Up 1.2%

Shares of Electronic Arts stock opened at $159.70 on Tuesday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $149.76 and its 200 day moving average is $142.22. The firm has a market cap of $40.13 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.14 and a beta of 0.71.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.48%. Electronic Arts’s payout ratio is 17.92%.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the sale, the insider owned 40,189 shares in the company, valued at $6,252,202.73. This represents a 5.86% decrease in their position. 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 company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $150.64, for a total value of $753,200.00. Following the sale, the chief executive officer owned 62,393 shares in the company, valued at approximately $9,398,881.52. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,229 shares of company stock worth $4,226,399 over the last quarter. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Citigroup reiterated a “neutral” rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Ascendiant Capital Markets increased their target price on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. The Goldman Sachs Group increased their target price on Electronic Arts from $135.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Wedbush increased their target price on Electronic Arts from $179.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

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.