First Trust Direct Indexing L.P. increased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,328 shares of the game software company’s stock after acquiring an additional 111 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Electronic Arts were worth $521,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Electronic Arts in the fourth quarter valued at $270,382,000. Amundi grew its position in Electronic Arts by 32.4% during the fourth quarter. Amundi now owns 6,569,700 shares of the game software company’s stock worth $827,685,000 after buying an additional 1,608,594 shares in the last quarter. Morgan Stanley grew its position in Electronic Arts by 62.1% during the fourth quarter. Morgan Stanley now owns 3,193,059 shares of the game software company’s stock worth $390,128,000 after buying an additional 1,223,195 shares in the last quarter. Lazard Asset Management LLC grew its position in Electronic Arts by 75.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,887,953 shares of the game software company’s stock worth $230,669,000 after buying an additional 814,081 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Electronic Arts by 471.2% during the first quarter. Renaissance Technologies LLC now owns 578,064 shares of the game software company’s stock worth $73,131,000 after buying an additional 476,864 shares in the last quarter. 88.65% of the stock is currently owned by institutional investors.
Electronic Arts Trading Up 0.5 %
EA opened at $137.34 on Friday. The business has a 50 day simple moving average of $127.97 and a two-hundred day simple moving average of $122.86. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 47.85, a PEG ratio of 6.05 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.21 and a quick ratio of 1.21. Electronic Arts Inc. has a one year low of $108.53 and a one year high of $139.38.
Electronic Arts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. Electronic Arts’s dividend payout ratio (DPR) is 26.48%.
Insiders Place Their Bets
In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $128.92, for a total transaction of $644,600.00. Following the transaction, the chief executive officer now owns 65,274 shares in the company, valued at approximately $8,415,124.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard A. Simonson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $125.66, for a total value of $1,256,600.00. Following the sale, the director now owns 58,723 shares in the company, valued at approximately $7,379,132.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $128.92, for a total value of $644,600.00. Following the completion of the sale, the chief executive officer now owns 65,274 shares in the company, valued at approximately $8,415,124.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,699 shares of company stock worth $4,385,667. Company insiders own 0.20% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on EA shares. BMO Capital Markets cut Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $150.00 to $125.00 in a research report on Thursday, April 27th. StockNews.com assumed coverage on Electronic Arts in a research report on Thursday, May 18th. They set a “buy” rating for the company. Robert W. Baird upped their price objective on Electronic Arts from $125.00 to $145.00 in a report on Wednesday, May 10th. Wells Fargo & Company upped their price objective on Electronic Arts from $135.00 to $145.00 in a report on Wednesday, May 10th. Finally, Credit Suisse Group upped their price objective on Electronic Arts from $132.00 to $138.00 in a report on Thursday, May 4th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.59.
Electronic Arts 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.
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