First Trust Advisors LP Boosts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Posted by Defense World Staff on Mar 11th, 2023

First Trust Advisors LP raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 52.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,158 shares of the game software company’s stock after buying an additional 48,265 shares during the period. First Trust Advisors LP owned about 0.05% of Electronic Arts worth $16,218,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EA. Northern Oak Wealth Management Inc. purchased a new stake in shares of Electronic Arts during the second quarter worth about $25,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Electronic Arts during the third quarter worth about $29,000. MCF Advisors LLC boosted its holdings in shares of Electronic Arts by 2,500.0% during the third quarter. MCF Advisors LLC now owns 260 shares of the game software company’s stock worth $30,000 after purchasing an additional 250 shares during the period. Neo Ivy Capital Management boosted its holdings in shares of Electronic Arts by 70.1% during the second quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after purchasing an additional 108 shares during the period. Finally, Riverview Trust Co bought a new position in Electronic Arts in the third quarter worth about $32,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EA has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Electronic Arts from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 1st. Credit Suisse Group decreased their price target on shares of Electronic Arts from $154.00 to $132.00 in a research note on Wednesday, February 1st. Truist Financial decreased their price target on shares of Electronic Arts from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. BMO Capital Markets decreased their price target on shares of Electronic Arts from $154.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, February 2nd. Finally, Ascendiant Capital Markets decreased their target price on shares of Electronic Arts from $156.00 to $152.00 and set a “buy” rating for the company in a research note on Monday, December 19th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.54.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the transaction, the chief executive officer now owns 85,274 shares in the company, valued at approximately $10,304,510.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the transaction, the chief executive officer now owns 85,274 shares in the company, valued at approximately $10,304,510.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laura Miele sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $123.59, for a total transaction of $185,385.00. Following the transaction, the chief operating officer now owns 31,082 shares in the company, valued at approximately $3,841,424.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,100 shares of company stock worth $1,626,881. 0.37% of the stock is owned by insiders.

Electronic Arts Trading Down 1.1 %

NASDAQ:EA opened at $109.19 on Friday. Electronic Arts Inc. has a 52 week low of $108.92 and a 52 week high of $142.79. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average price is $118.17 and its 200-day moving average price is $122.64. The stock has a market cap of $30.15 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 8.37 and a beta of 0.86.

Electronic Arts (NASDAQ:EA – Get Rating) last issued its earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($1.89). Electronic Arts had a return on equity of 14.38% and a net margin of 14.08%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Electronic Arts Inc. will post 4.44 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, February 28th. Electronic Arts’s dividend payout ratio is currently 20.49%.

About Electronic Arts

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Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.