Resona Asset Management Co. Ltd. Acquires 659 Shares of Electronic Arts Inc. $EA

Resona Asset Management Co. Ltd. lifted its holdings in Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,551 shares of the game software company’s stock after purchasing an additional 659 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Electronic Arts were worth $16,990,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EA. Salomon & Ludwin LLC lifted its position in Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after buying an additional 68 shares in the last quarter. Frazier Financial Advisors LLC increased its position in shares of Electronic Arts by 328.9% in the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after acquiring an additional 148 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after acquiring an additional 79 shares during the last quarter. Bank of Jackson Hole Trust raised its holdings in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Finally, ORG Partners LLC boosted its position in Electronic Arts by 47.6% during the second quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $200.60 on Friday. The stock has a market cap of $50.03 billion, a PE ratio of 58.65, a P/E/G ratio of 3.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50-day moving average of $189.02 and a 200-day moving average of $166.81. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $203.75.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.07). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The firm’s revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 earnings per share. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Roth Capital downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. DZ Bank lowered shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Finally, Argus set a $210.00 target price on shares of Electronic Arts in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.64.

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $200.80, for a total value of $240,960.00. Following the transaction, the executive vice president directly owned 24,880 shares of the company’s stock, valued at $4,995,904. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $200.55, for a total value of $1,002,750.00. Following the transaction, the chief executive officer owned 42,393 shares in the company, valued at $8,501,916.15. The trade was a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,400 shares of company stock worth $7,359,462 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

About Electronic Arts

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.