EP Wealth Advisors LLC Acquires New Holdings in Electronic Arts Inc. (NASDAQ:EA)

EP Wealth Advisors LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,578 shares of the game software company's stock, valued at approximately $1,230,000.

Other hedge funds also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. increased its position in Electronic Arts by 43.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company's stock worth $193,727,000 after buying an additional 420,382 shares during the period. National Bank of Canada FI boosted its position in shares of Electronic Arts by 214.8% during the 2nd quarter. National Bank of Canada FI now owns 533,548 shares of the game software company's stock valued at $73,264,000 after purchasing an additional 364,044 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Electronic Arts by 29.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company's stock worth $215,725,000 after buying an additional 354,005 shares in the last quarter. abrdn plc grew its holdings in shares of Electronic Arts by 59.2% in the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company's stock worth $123,484,000 after acquiring an additional 319,335 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Electronic Arts by 8,503.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company's stock worth $45,626,000 after purchasing an additional 314,388 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares in the company, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $3,086,270 over the last 90 days. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $160.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Morgan Stanley restated an "equal weight" rating and issued a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Robert W. Baird increased their target price on Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. UBS Group raised their price target on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Argus lifted their price objective on Electronic Arts from $161.00 to $183.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.37.

Electronic Arts Price Performance

NASDAQ:EA traded down $0.31 during mid-day trading on Tuesday, reaching $165.30. 1,699,315 shares of the company were exchanged, compared to its average volume of 2,035,113. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $168.50. The stock has a market cap of $43.35 billion, a PE ratio of 42.57, a PEG ratio of 2.18 and a beta of 0.79. 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 company has a fifty day moving average of $154.41 and a 200 day moving average of $146.78.

Electronic Arts Dividend Announcement

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

Electronic Arts Company Profile

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.