KBC Group NV Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

KBC Group NV decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,854 shares of the game software company’s stock after selling 5,703 shares during the quarter. KBC Group NV’s holdings in Electronic Arts were worth $11,167,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in Electronic Arts during the third quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the 2nd quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in Electronic Arts in the second quarter worth approximately $33,000. New Covenant Trust Company N.A. bought a new position in Electronic Arts during the first quarter valued at approximately $35,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the third quarter worth approximately $36,000. 90.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on EA shares. JPMorgan Chase & Co. reduced their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. UBS Group lifted their price target on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $165.37.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total value of $395,075.00. Following the transaction, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the sale, the insider now directly owns 30,190 shares of the company’s stock, valued at $4,579,823. This trade represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is currently owned by company insiders.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $161.36 on Friday. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $164.42. The firm has a market capitalization of $42.32 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $147.17 and a two-hundred day simple moving average of $142.55.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Electronic Arts Company 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.