Massachusetts Financial Services Co. MA Sells 26,058 Shares of Electronic Arts Inc. (NASDAQ:EA)

Massachusetts Financial Services Co. MA trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,159,418 shares of the game software company’s stock after selling 26,058 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.59% of Electronic Arts worth $596,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EA. Ashton Thomas Securities LLC acquired a new stake in Electronic Arts in the 3rd quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the second quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in shares of Electronic Arts in the second quarter valued at approximately $33,000. New Covenant Trust Company N.A. acquired a new stake in Electronic Arts during the first quarter worth approximately $35,000. Finally, Reston Wealth Management LLC bought a new position in Electronic Arts during the 3rd quarter worth $36,000. Institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EA shares. StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Stock Up 0.8 %

EA stock opened at $168.08 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $168.07. The stock’s 50 day simple moving average is $148.94 and its 200 day simple moving average is $143.49. The company has a market cap of $44.08 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the sale, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. This represents a 8.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,384 shares of company stock valued at $4,776,635 over the last three months. Corporate insiders own 0.22% 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. 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.