CIBC Asset Management Inc Increases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

CIBC Asset Management Inc raised its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,004 shares of the game software company's stock after purchasing an additional 3,600 shares during the period. CIBC Asset Management Inc's holdings in Electronic Arts were worth $11,476,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. increased its stake in Electronic Arts by 6.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,408 shares of the game software company's stock worth $452,000 after purchasing an additional 220 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company's stock worth $3,868,620,000 after acquiring an additional 3,727,251 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Electronic Arts by 7.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 28,364 shares of the game software company's stock valued at $3,763,000 after acquiring an additional 1,846 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Electronic Arts by 8.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,212 shares of the game software company's stock worth $1,620,000 after purchasing an additional 917 shares during the period. Finally, Seven Eight Capital LP bought a new position in Electronic Arts during the 1st quarter worth about $1,931,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Shares of NASDAQ EA traded down $2.76 during midday trading on Friday, reaching $161.36. 2,036,594 shares of the company were exchanged, compared to its average volume of 1,966,724. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $164.42. The stock has a market cap of $42.32 billion, a P/E ratio of 41.48, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $147.17 and its 200-day moving average price is $142.65.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts's dividend payout ratio (DPR) is currently 19.54%.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the sale, the executive vice president now owns 27,860 shares of the company's stock, valued at approximately $4,160,055.20. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the transaction, the insider now directly owns 50,433 shares of the company's stock, valued at approximately $7,969,926.99. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,144 shares of company stock valued at $3,886,282. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EA shares. StockNews.com raised Electronic Arts from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Roth Mkm boosted their price target on Electronic Arts from $154.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $160.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. UBS Group boosted their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average 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.