Pinnacle Associates Ltd. purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,756 shares of the game software company’s stock, valued at approximately $214,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameliora Wealth Management Ltd. bought a new position in Electronic Arts in the third quarter worth approximately $29,000. MCF Advisors LLC raised its stake in Electronic Arts by 2,500.0% in the third quarter. MCF Advisors LLC now owns 260 shares of the game software company’s stock worth $30,000 after buying an additional 250 shares in the last quarter. Neo Ivy Capital Management raised its stake in Electronic Arts by 70.1% in the second 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 in the last quarter. Riverview Trust Co bought a new position in Electronic Arts in the third quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Electronic Arts by 128.9% during the first quarter. Geneos Wealth Management Inc. now owns 293 shares of the game software company’s stock worth $37,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on EA shares. KeyCorp reduced their price target on Electronic Arts from $155.00 to $138.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 1st. Bank of America downgraded Electronic Arts from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $155.00 to $130.00 in a research report on Wednesday, February 1st. Raymond James reduced their price target on Electronic Arts from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 1st. Wedbush reduced their price target on Electronic Arts from $164.00 to $139.00 in a research report on Wednesday, February 1st. Finally, Credit Suisse Group reduced their price target on Electronic Arts from $154.00 to $132.00 in a research report on Wednesday, February 1st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.79.
Electronic Arts Trading Up 0.5 %
Electronic Arts (NASDAQ:EA – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The game software company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($1.89). The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.50 billion. Electronic Arts had a return on equity of 14.38% and a net margin of 14.08%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $2.80 EPS. As a group, equities analysts predict that Electronic Arts Inc. will post 4.43 earnings per share for the current fiscal year.
Electronic Arts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.59%. Electronic Arts’s dividend payout ratio (DPR) is presently 20.49%.
Insider Buying and Selling
In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $120.14, for a total transaction of $96,112.00. Following the completion of the transaction, the insider now owns 23,755 shares in the company, valued at approximately $2,853,925.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Electronic Arts news, COO Laura Miele sold 1,500 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $120.14, for a total value of $180,210.00. Following the completion of the sale, the chief operating officer now owns 26,770 shares in the company, valued at approximately $3,216,147.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $120.14, for a total transaction of $96,112.00. Following the completion of the sale, the insider now owns 23,755 shares of the company’s stock, valued at approximately $2,853,925.70. The disclosure for this sale can be found here. Insiders sold a total of 13,940 shares of company stock worth $1,715,546 in the last 90 days. Insiders own 0.37% of the company’s stock.
Electronic Arts Profile
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.
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