Nomura Asset Management Co. Ltd. increased its position in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,596 shares of the game software company’s stock after purchasing an additional 2,750 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Electronic Arts were worth $20,350,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Electronic Arts by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after buying an additional 485,030 shares during the period. Geode Capital Management LLC grew its position in shares of Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock worth $1,382,030,000 after buying an additional 143,195 shares during the period. Pentwater Capital Management LP acquired a new position in shares of Electronic Arts during the 3rd quarter worth about $968,160,000. Ameriprise Financial Inc. grew its position in shares of Electronic Arts by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,591,869 shares of the game software company’s stock worth $926,194,000 after buying an additional 374,840 shares during the period. Finally, Invesco Ltd. grew its position in shares of Electronic Arts by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock worth $870,328,000 after buying an additional 202,657 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently issued reports on EA. Citigroup boosted their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, UBS Group restated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Electronic Arts has a consensus rating of “Hold” and a consensus target price of $196.64.
Electronic Arts Price Performance
Shares of EA opened at $202.00 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $202.10 and a 200 day simple moving average of $202.26. Electronic Arts Inc. has a 52-week low of $143.51 and a 52-week high of $204.88. The firm has a market capitalization of $50.65 billion, a PE ratio of 57.88, a P/E/G ratio of 2.22 and a beta of 0.66.
Electronic Arts Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is currently 21.78%.
Insiders Place Their Bets
In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $199.95, for a total value of $499,875.00. Following the sale, the insider owned 45,843 shares in the company, valued at approximately $9,166,307.85. The trade was a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. The trade was a 10.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 39,906 shares of company stock valued at $8,032,336 over the last 90 days. 0.24% of the stock is owned by company insiders.
Electronic Arts Profile
Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.
EA’s product lineup spans several well-known franchises and genres.
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