Miracle Mile Advisors LLC Takes $1.17 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Miracle Mile Advisors LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,023 shares of the game software company's stock, valued at approximately $1,174,000.

Several other hedge funds have also recently bought and sold shares of EA. Ashton Thomas Securities LLC acquired a new position in shares of Electronic Arts in the third quarter valued at about $25,000. Reston Wealth Management LLC acquired a new position in shares of Electronic Arts during the 3rd quarter worth approximately $36,000. Bruce G. Allen Investments LLC increased its holdings in shares of Electronic Arts by 156.6% during the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company's stock worth $39,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC raised its position in shares of Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Electronic Arts by 9,280.0% in the fourth quarter. Versant Capital Management Inc now owns 469 shares of the game software company's stock valued at $69,000 after buying an additional 464 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the transaction, the insider now directly owns 29,216 shares of the company's stock, valued at approximately $4,311,405.12. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $145.87, for a total value of $364,675.00. Following the sale, the chief executive officer now owns 51,747 shares in the company, valued at approximately $7,548,334.89. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $3,422,485 over the last ninety days. Insiders own 0.22% of the company's stock.

Electronic Arts Trading Up 0.3 %

EA traded up $0.38 during midday trading on Wednesday, hitting $142.13. 2,619,558 shares of the company were exchanged, compared to its average volume of 1,946,840. The firm's 50 day moving average price is $156.39 and its 200-day moving average price is $149.11. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.50. The firm has a market capitalization of $37.28 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.06 and a beta of 0.80. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Wednesday, November 27th. Electronic Arts's dividend payout ratio is currently 19.54%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EA shares. Stifel Nicolaus reissued a "hold" rating and issued a $167.00 price objective on shares of Electronic Arts in a research note on Wednesday, December 18th. StockNews.com raised Electronic Arts from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st. Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Roth Mkm lifted their target price on Electronic Arts from $154.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, DZ Bank raised shares of Electronic Arts from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.37.

Electronic Arts 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.