Cornerstone Investment Partners LLC Has $36.10 Million Holdings in Electronic Arts Inc. (NASDAQ:EA)

Cornerstone Investment Partners LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 263,889 shares of the game software company’s stock after selling 1,754 shares during the period. Electronic Arts accounts for 2.0% of Cornerstone Investment Partners LLC’s holdings, making the stock its 24th biggest position. Cornerstone Investment Partners LLC’s holdings in Electronic Arts were worth $36,103,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EA. Bray Capital Advisors lifted its position in Electronic Arts by 100.0% in the 3rd quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Electronic Arts in the fourth quarter worth approximately $26,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Electronic Arts by 269.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock valued at $29,000 after purchasing an additional 154,989 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Electronic Arts by 81.0% during the fourth quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Finally, Neo Ivy Capital Management boosted its holdings in shares of Electronic Arts by 70.1% in the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after buying an additional 108 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on EA. Benchmark restated a “buy” rating and set a $153.00 price objective on shares of Electronic Arts in a report on Thursday. BMO Capital Markets started coverage on shares of Electronic Arts in a research report on Tuesday, January 9th. They set an “outperform” rating and a $160.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. UBS Group dropped their price objective on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 27th. Finally, Wedbush reissued an “outperform” rating and issued a $162.00 target price on shares of Electronic Arts in a research report on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Electronic Arts Price Performance

NASDAQ EA traded up $1.18 during trading hours on Friday, hitting $126.81. The company had a trading volume of 599,983 shares, compared to its average volume of 2,024,163. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $33.90 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.75 and a beta of 0.76. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The firm has a 50 day simple moving average of $135.02 and a 200 day simple moving average of $134.25.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data 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). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.40 billion. Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. Electronic Arts’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. Equities research analysts expect that Electronic Arts Inc. will post 5.36 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. Electronic Arts’s dividend payout ratio (DPR) is presently 19.14%.

Insider Activity at Electronic Arts

In other news, Director Jeff Huber sold 11,872 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $141.90, for a total transaction of $1,684,636.80. Following the completion of the transaction, the director now owns 79,381 shares of the company’s stock, valued at $11,264,163.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total value of $347,200.00. Following the transaction, the chief executive officer now owns 30,930 shares of the company’s stock, valued at $4,295,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Huber sold 11,872 shares of Electronic Arts stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $141.90, for a total value of $1,684,636.80. Following the sale, the director now directly owns 79,381 shares of the company’s stock, valued at approximately $11,264,163.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,144 shares of company stock valued at $5,143,560. Company insiders own 0.20% 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.