HighPoint Advisor Group LLC Invests $247,000 in Electronic Arts Inc. (NASDAQ:EA)

HighPoint Advisor Group LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,692 shares of the game software company's stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of Electronic Arts by 689.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock valued at $178,987,000 after acquiring an additional 1,081,589 shares during the period. FMR LLC lifted its position in Electronic Arts by 224.8% during the fourth quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after purchasing an additional 835,985 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Electronic Arts by 130.0% in the 4th quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock worth $175,758,000 after acquiring an additional 679,032 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Electronic Arts by 11,587.9% in the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after acquiring an additional 663,640 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Electronic Arts in the 4th quarter worth approximately $96,698,000. Institutional investors own 90.23% of the company's stock.

Electronic Arts Trading Down 0.6%

Electronic Arts stock traded down $0.96 during midday trading on Friday, reaching $151.68. The stock had a trading volume of 1,450,551 shares, compared to its average volume of 2,278,458. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a market capitalization of $38.11 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.07 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The stock's 50-day simple moving average is $151.04 and its 200 day simple moving average is $142.88.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's payout ratio is currently 17.92%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Hsbc Global Res raised shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Oppenheimer boosted their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Finally, Roth Capital raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.71.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $159.50, for a total transaction of $398,750.00. Following the completion of the transaction, the insider directly owned 60,592 shares of the company's stock, valued at approximately $9,664,424. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $152.21, for a total value of $761,050.00. Following the sale, the chief executive officer owned 57,393 shares in the company, valued at $8,735,788.53. The trade was a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,729 shares of company stock valued at $4,822,884 over the last three months. Company insiders own 0.24% of the company's stock.

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.