Texas Permanent School Fund Corp Has $6.13 Million Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Texas Permanent School Fund Corp reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EAFree Report) by 6.8% during the third quarter, HoldingsChannel.com reports. The fund owned 50,943 shares of the game software company’s stock after selling 3,689 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Electronic Arts were worth $6,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of EA. Norges Bank bought a new stake in shares of Electronic Arts in the fourth quarter valued at $270,382,000. BlackRock Inc. raised its stake in shares of Electronic Arts by 7.0% in the second quarter. BlackRock Inc. now owns 25,779,074 shares of the game software company’s stock valued at $3,343,546,000 after buying an additional 1,690,474 shares during the period. Morgan Stanley raised its stake in shares of Electronic Arts by 62.1% in the fourth quarter. Morgan Stanley now owns 3,193,059 shares of the game software company’s stock valued at $390,128,000 after buying an additional 1,223,195 shares during the period. Barclays PLC raised its stake in shares of Electronic Arts by 265.0% in the second quarter. Barclays PLC now owns 1,516,792 shares of the game software company’s stock valued at $196,727,000 after buying an additional 1,101,229 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Electronic Arts by 1,629.9% in the second quarter. Acadian Asset Management LLC now owns 901,244 shares of the game software company’s stock valued at $116,868,000 after buying an additional 849,146 shares during the period. 90.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on EA shares. JPMorgan Chase & Co. boosted their target price on Electronic Arts from $132.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Wedbush reiterated an “outperform” rating and issued a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, January 31st. Wolfe Research started coverage on Electronic Arts in a research report on Tuesday, December 12th. They issued a “peer perform” rating for the company. Wells Fargo & Company lifted their price target on Electronic Arts from $145.00 to $148.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Finally, Roth Mkm lifted their price target on Electronic Arts from $138.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $146.94.

Get Our Latest Research Report on Electronic Arts

Electronic Arts Trading Up 1.3 %

EA opened at $140.61 on Monday. The business has a 50 day simple moving average of $137.65 and a two-hundred day simple moving average of $130.07. The firm has a market capitalization of $37.59 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33. Electronic Arts Inc. has a one year low of $108.53 and a one year high of $143.47.

Electronic Arts (NASDAQ:EAGet Free Report) last released its quarterly earnings results 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 net margin of 14.09% and a return on equity of 20.58%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the company earned $2.29 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict 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 will be paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. Electronic Arts’s dividend payout ratio (DPR) is 19.14%.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $138.01, for a total value of $110,408.00. Following the sale, the insider now owns 30,283 shares in the company, valued at approximately $4,179,356.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $134.45, for a total transaction of $134,450.00. Following the transaction, the insider now directly owns 20,922 shares of the company’s stock, valued at approximately $2,812,962.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $138.01, for a total value of $110,408.00. Following the transaction, the insider now directly owns 30,283 shares in the company, valued at $4,179,356.83. The disclosure for this sale can be found here. Insiders have sold 27,031 shares of company stock worth $3,710,113 in the last 90 days. Insiders own 0.20% of the company’s stock.

Electronic Arts Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EAFree Report).

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.