Illinois Municipal Retirement Fund Sells 5,599 Shares of Electronic Arts Inc. $EA

Illinois Municipal Retirement Fund decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,015 shares of the game software company’s stock after selling 5,599 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Electronic Arts worth $32,215,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Electronic Arts in the first quarter worth about $199,000. Checchi Capital Advisers LLC boosted its stake in Electronic Arts by 12.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,500 shares of the game software company’s stock valued at $510,000 after buying an additional 267 shares during the last quarter. Calamos Advisors LLC purchased a new position in Electronic Arts during the 1st quarter valued at approximately $50,164,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Electronic Arts during the 1st quarter valued at approximately $367,000. Finally, J. Safra Sarasin Holding AG increased its stake in Electronic Arts by 52.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 7,438 shares of the game software company’s stock worth $1,515,000 after acquiring an additional 2,574 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EA has been the topic of several recent research reports. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and a consensus target price of $196.64.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the transaction, the executive vice president directly owned 42,287 shares of the company’s stock, valued at $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider owned 73,513 shares in the company, valued at $14,930,490.30. This trade represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,206 shares of company stock worth $6,292,058 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Trading Up 0.3%

Shares of EA stock opened at $207.27 on Thursday. Electronic Arts Inc. has a 1 year low of $146.97 and a 1 year high of $207.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $203.07 and its two-hundred day simple moving average is $202.57. The company has a market cap of $51.97 billion, a PE ratio of 59.39, a price-to-earnings-growth ratio of 2.32 and a beta of 0.64.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is currently 21.78%.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.