Portfolio Design Labs LLC Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Portfolio Design Labs LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,097 shares of the game software company's stock, valued at approximately $3,026,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its position in Electronic Arts by 16.4% in the first quarter. Capital International Investors now owns 5,901,257 shares of the game software company's stock worth $782,920,000 after buying an additional 833,492 shares during the last quarter. Ninety One UK Ltd boosted its stake in Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company's stock worth $596,825,000 after purchasing an additional 53,237 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Electronic Arts by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company's stock valued at $583,162,000 after buying an additional 18,376 shares during the period. Legal & General Group Plc boosted its stake in shares of Electronic Arts by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company's stock valued at $367,789,000 after buying an additional 53,800 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Electronic Arts by 496.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company's stock valued at $333,169,000 after purchasing an additional 2,090,504 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

Shares of EA traded up $0.58 during trading hours on Wednesday, hitting $166.71. The company had a trading volume of 2,056,346 shares, compared to its average volume of 2,055,460. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $167.51. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 2.11 and a beta of 0.78. The business has a fifty day moving average of $148.01 and a 200-day moving average of $143.16. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts's dividend payout ratio is currently 19.54%.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the sale, the chief executive officer now directly owns 54,247 shares in the company, valued at approximately $7,675,950.50. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $163.30, for a total transaction of $244,950.00. Following the completion of the sale, the executive vice president now owns 23,360 shares in the company, valued at approximately $3,814,688. The trade was a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,384 shares of company stock valued at $3,944,285 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EA. JPMorgan Chase & Co. dropped their target price on shares of Electronic Arts from $155.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Benchmark restated a "buy" rating and issued a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an "outperform" rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Electronic Arts presently has a consensus rating of "Moderate Buy" and an average target price of $165.37.

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.