Electronic Arts Inc. (NASDAQ:EA – Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $206.00 and last traded at $205.6510, with a volume of 81815 shares trading hands. The stock had previously closed at $205.21.
Analyst Ratings Changes
EA has been the topic of several research reports. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Citigroup increased their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $196.64.
Read Our Latest Stock Analysis on Electronic Arts
Electronic Arts Trading Down 0.3%
Electronic Arts Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 21.78%.
Insider Buying and Selling at Electronic Arts
In related news, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the transaction, the executive vice president owned 42,287 shares in the company, valued at approximately $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the transaction, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% 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. In the last quarter, insiders sold 39,906 shares of company stock worth $8,060,033. 0.24% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Electronic Arts
Several hedge funds have recently added to or reduced their stakes in EA. Cornerstone Planning Group LLC grew its position in shares of Electronic Arts by 26.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock valued at $49,000 after buying an additional 51 shares during the last quarter. Optas LLC raised its stake in Electronic Arts by 4.2% during the 1st quarter. Optas LLC now owns 1,332 shares of the game software company’s stock worth $272,000 after acquiring an additional 54 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its position in Electronic Arts by 6.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock valued at $218,000 after acquiring an additional 62 shares during the last quarter. Finally, Candriam S.C.A. boosted its stake in Electronic Arts by 0.3% in the first quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock valued at $5,033,000 after acquiring an additional 65 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.
Electronic Arts Company 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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