Cary Street Partners Financial LLC Purchases New Position in Electronic Arts Inc. (NASDAQ:EA)

Cary Street Partners Financial LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,071 shares of the game software company's stock, valued at approximately $303,000.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB grew its position in shares of Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company's stock valued at $235,224,000 after purchasing an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Electronic Arts in the fourth quarter valued at about $217,000. Huntington National Bank grew its position in shares of Electronic Arts by 31.4% in the fourth quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock valued at $49,577,000 after purchasing an additional 80,968 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Electronic Arts by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company's stock valued at $213,089,000 after purchasing an additional 36,153 shares during the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in shares of Electronic Arts in the fourth quarter valued at about $3,730,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $130.14, for a total transaction of $650,700.00. Following the transaction, the chief executive officer now directly owns 37,615 shares in the company, valued at $4,895,216.10. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stuart Canfield sold 1,000 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $130.11, for a total transaction of $130,110.00. Following the transaction, the chief financial officer now owns 9,516 shares in the company, valued at $1,238,126.76. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock valued at $3,118,120 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EA shares. JPMorgan Chase & Co. increased their target price on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their target price on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Bank of America increased their target price on shares of Electronic Arts from $130.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Wedbush increased their target price on shares of Electronic Arts from $179.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas cut shares of Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 price target for the company. in a research note on Monday, January 27th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $161.83.

Electronic Arts Stock Down 1.2%

NASDAQ:EA traded down $1.83 on Wednesday, hitting $147.23. 2,759,360 shares of the company's stock were exchanged, compared to its average volume of 2,715,064. The firm has a 50-day moving average price of $143.91 and a 200-day moving average price of $144.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The company has a market cap of $38.37 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.52%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

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.