Illinois Municipal Retirement Fund Increases Holdings in Electronic Arts Inc. (NASDAQ:EA)

Illinois Municipal Retirement Fund increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,621 shares of the game software company’s stock after buying an additional 12,210 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of Electronic Arts worth $18,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. North Star Investment Management Corp. increased its stake in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Electronic Arts during the first quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts during the second quarter worth $28,000. Finally, Private Wealth Management Group LLC acquired a new stake in Electronic Arts during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James lifted their price objective on Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wedbush lifted their price objective on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a research note on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.28.

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $144.86, for a total value of $144,860.00. Following the completion of the sale, the executive vice president now directly owns 29,317 shares of the company’s stock, valued at approximately $4,246,860.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 7,384 shares of the firm’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 sale, the insider now directly owns 31,190 shares of the company’s stock, valued at $4,675,692.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,070 shares of company stock valued at $3,963,638. 0.22% of the stock is owned by company insiders.

Electronic Arts Stock Performance

NASDAQ:EA traded down $1.90 during mid-day trading on Friday, reaching $144.01. 1,785,738 shares of the stock were exchanged, compared to its average volume of 2,109,870. The company has a 50 day simple moving average of $145.65 and a 200-day simple moving average of $137.55. The stock has a market capitalization of $38.27 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.28 and a beta of 0.79. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s payout ratio is 16.24%.

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.