Harvest Fund Management Co. Ltd Buys 4,110 Shares of Electronic Arts Inc. (NASDAQ:EA)

Harvest Fund Management Co. Ltd raised its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 51.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,170 shares of the game software company's stock after purchasing an additional 4,110 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Electronic Arts were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EA. Ashton Thomas Securities LLC bought a new stake in shares of Electronic Arts during the 3rd quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the second quarter valued at about $28,000. Family Firm Inc. acquired a new position in shares of Electronic Arts in the second quarter worth about $33,000. New Covenant Trust Company N.A. purchased a new position in shares of Electronic Arts in the first quarter worth approximately $35,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts during the third quarter valued at approximately $36,000. Institutional investors own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EA shares. Benchmark reaffirmed a "buy" rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. UBS Group increased their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Morgan Stanley restated an "equal weight" rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Wedbush reaffirmed an "outperform" rating and set a $170.00 price target on shares of Electronic Arts in a research note on Friday, October 25th. Finally, Argus boosted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.37.

Insider Activity

In related news, insider Vijayanthimala Singh sold 7,384 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the transaction, the chief executive officer now directly owns 52,615 shares in the company, valued at $8,758,819.05. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,884 shares of company stock valued at $4,404,435. Company insiders own 0.22% of the company's stock.

Electronic Arts Price Performance

NASDAQ EA traded up $0.88 on Tuesday, hitting $165.02. 1,859,535 shares of the company were exchanged, compared to its average volume of 2,052,295. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.50. The firm has a 50 day moving average of $149.71 and a two-hundred day moving average of $144.23. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $43.28 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.18 and a beta of 0.78.

Electronic Arts Announces Dividend

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 given a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. Electronic Arts's payout ratio is 19.54%.

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.