ING Groep NV Has $2.56 Million Position in Electronic Arts Inc. (NASDAQ:EA)

ING Groep NV lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 90.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,939 shares of the game software company’s stock after selling 180,196 shares during the period. ING Groep NV’s holdings in Electronic Arts were worth $2,564,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. GYL Financial Synergies LLC grew its holdings in Electronic Arts by 2.0% during the first quarter. GYL Financial Synergies LLC now owns 3,762 shares of the game software company’s stock valued at $509,000 after purchasing an additional 74 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Electronic Arts by 2.2% during the first quarter. Raymond James Trust N.A. now owns 3,868 shares of the game software company’s stock valued at $523,000 after purchasing an additional 82 shares during the last quarter. Wedbush Securities Inc. boosted its position in shares of Electronic Arts by 3.9% in the first quarter. Wedbush Securities Inc. now owns 2,477 shares of the game software company’s stock valued at $335,000 after acquiring an additional 92 shares during the period. McIlrath & Eck LLC boosted its position in shares of Electronic Arts by 72.9% in the fourth quarter. McIlrath & Eck LLC now owns 230 shares of the game software company’s stock valued at $33,000 after acquiring an additional 97 shares during the period. Finally, Arthur M. Cohen & Associates LLC boosted its position in shares of Electronic Arts by 6.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,615 shares of the game software company’s stock valued at $219,000 after acquiring an additional 98 shares during the period. Institutional investors own 88.18% of the company’s stock.

Several equities research analysts have recently weighed in on the company. TheStreet cut Electronic Arts from a “b” rating to a “c+” rating in a research report on Tuesday, May 11th. Barclays reduced their price objective on Electronic Arts from $145.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 12th. KeyCorp increased their price objective on Electronic Arts from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. BMO Capital Markets raised their target price on Electronic Arts from $143.00 to $150.00 and gave the stock a “market perform” rating in a research report on Friday, May 14th. Finally, Benchmark raised their target price on Electronic Arts from $177.00 to $181.00 and gave the stock a “buy” rating in a research report on Wednesday, May 12th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $157.81.

Shares of EA stock opened at $145.66 on Friday. The stock has a 50-day moving average price of $141.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market capitalization of $41.69 billion, a price-to-earnings ratio of 50.93, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Electronic Arts Inc. has a 12 month low of $110.15 and a 12 month high of $150.30.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Monday, May 10th. The game software company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.18. Electronic Arts had a return on equity of 16.74% and a net margin of 14.87%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the business earned $1.08 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. On average, analysts expect that Electronic Arts Inc. will post 4.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 23rd. Shareholders of record on Wednesday, June 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, June 1st. Electronic Arts’s dividend payout ratio (DPR) is currently 14.98%.

In other news, insider Laura Miele sold 785 shares of Electronic Arts stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $142.92, for a total transaction of $112,192.20. Following the transaction, the insider now owns 36,032 shares in the company, valued at approximately $5,149,693.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $129.42, for a total value of $129,420.00. Following the transaction, the general counsel now owns 14,860 shares in the company, valued at approximately $1,923,181.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,712 shares of company stock worth $15,206,135. Company insiders own 0.92% of the company’s stock.

About Electronic Arts

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, Need for Speed, and Plants v.

See Also: Non-Fungible Token (NFT) Explained

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:EA).

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.