iA Global Asset Management Inc. increased its position in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 90.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,321 shares of the game software company’s stock after purchasing an additional 28,227 shares during the quarter. iA Global Asset Management Inc.’s holdings in Electronic Arts were worth $12,094,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. increased its position in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Electronic Arts in the fourth quarter valued at approximately $28,000. Asset Planning Inc acquired a new stake in shares of Electronic Arts in the first quarter valued at approximately $32,000. Fideuram Asset Management Ireland dac bought a new position in shares of Electronic Arts during the 4th quarter worth approximately $44,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock worth $46,000 after acquiring an additional 190 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider directly owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the transaction, the insider owned 73,513 shares in the company, valued at $14,930,490.30. The trade was a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,906 shares of company stock worth $8,060,033 over the last three months. 0.24% of the stock is currently owned by corporate insiders.
Electronic Arts Trading Down 0.0%
Electronic Arts Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is 21.78%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Citigroup boosted their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.64.
View Our Latest Stock Report on EA
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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