Northcape Capital Pty Ltd raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 27.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 38,606 shares of the game software company’s stock after buying an additional 8,419 shares during the period. Electronic Arts comprises about 0.5% of Northcape Capital Pty Ltd’s portfolio, making the stock its 10th largest holding. Northcape Capital Pty Ltd’s holdings in Electronic Arts were worth $4,601,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Stratos Wealth Partners LTD. acquired a new stake in Electronic Arts during the second quarter worth approximately $370,000. State of Michigan Retirement System boosted its stake in shares of Electronic Arts by 10.2% in the 2nd quarter. State of Michigan Retirement System now owns 73,752 shares of the game software company’s stock valued at $9,739,000 after purchasing an additional 6,846 shares during the last quarter. Brinker Capital Inc. boosted its stake in shares of Electronic Arts by 16.0% in the 2nd quarter. Brinker Capital Inc. now owns 6,640 shares of the game software company’s stock valued at $877,000 after purchasing an additional 914 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Electronic Arts by 29.1% in the 2nd quarter. Signaturefd LLC now owns 4,493 shares of the game software company’s stock valued at $593,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $538,000. Institutional investors and hedge funds own 81.28% of the company’s stock.
In related news, CEO Andrew Wilson sold 250,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $124.67, for a total transaction of $31,167,500.00. Following the completion of the transaction, the chief executive officer now directly owns 250,000 shares in the company, valued at approximately $31,167,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joel Linzner sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $139.04, for a total transaction of $278,080.00. The disclosure for this sale can be found here. Insiders have sold 546,991 shares of company stock worth $68,254,006 over the last ninety days. 0.92% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Electronic Arts from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, November 6th. Needham & Company LLC increased their price target on shares of Electronic Arts from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Electronic Arts from $125.00 to $144.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Truist dropped their target price on shares of Electronic Arts from $153.00 to $138.00 in a report on Wednesday, November 11th. Finally, Stifel Nicolaus dropped their target price on shares of Electronic Arts from $163.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, November 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $141.86.
Shares of EA opened at $124.79 on Monday. The company’s 50 day moving average price is $124.01 and its 200 day moving average price is $129.44. Electronic Arts Inc. has a 52 week low of $85.69 and a 52 week high of $147.36. The company has a market capitalization of $35.99 billion, a PE ratio of 27.80, a PEG ratio of 2.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.75 and a current ratio of 2.75.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, December 1st. Electronic Arts’s payout ratio is presently 14.29%.
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, Need for Speed, and Plants v.
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