Abacus FCF Advisors LLC bought a new position in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90,776 shares of the game software company's stock, valued at approximately $14,497,000. Electronic Arts accounts for about 2.0% of Abacus FCF Advisors LLC's holdings, making the stock its 25th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wedge Capital Management L L P NC bought a new position in Electronic Arts during the 2nd quarter valued at about $41,150,000. UMB Bank n.a. raised its stake in Electronic Arts by 10.0% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the game software company's stock worth $153,000 after acquiring an additional 87 shares during the period. Diversified Trust Co raised its stake in Electronic Arts by 268.9% during the 2nd quarter. Diversified Trust Co now owns 16,515 shares of the game software company's stock worth $2,637,000 after acquiring an additional 12,038 shares during the period. Perpetual Ltd bought a new stake in Electronic Arts during the 2nd quarter worth approximately $381,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Electronic Arts by 52.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,363 shares of the game software company's stock valued at $10,914,000 after buying an additional 23,400 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the transaction, the insider directly owned 34,731 shares of the company's stock, valued at approximately $5,957,061.12. This represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,800 shares of company stock valued at $5,077,960. Corporate insiders own 0.24% of the company's stock.
Electronic Arts Price Performance
Shares of EA stock traded up $1.43 during trading hours on Tuesday, hitting $174.85. 914,421 shares of the company's stock were exchanged, compared to its average volume of 3,388,348. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market cap of $43.75 billion, a P/E ratio of 43.84, a P/E/G ratio of 2.63 and a beta of 0.75. The firm has a 50 day moving average of $165.57 and a two-hundred day moving average of $153.62. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90.
Electronic Arts Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.
Analyst Upgrades and Downgrades
EA has been the subject of a number of research analyst reports. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective for the company in a report on Tuesday, August 5th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Wall Street Zen lowered shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Arete Research set a $192.00 target price on shares of Electronic Arts in a report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.40.
Get Our Latest Analysis on EA
About Electronic Arts
(
Free Report)
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.
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