Adage Capital Partners GP L.L.C. Has $31.28 Million Stake in Electronic Arts Inc. $EA

Key Points

• Adage Capital Partners GP L.L.C. has reduced its holdings in Electronic Arts by 2.9%, owning approximately 216,466 shares valued at $31.28 million.
• Electronic Arts announced a quarterly $0.19 dividend to stockholders, with an annualized payout representing a yield of 0.5%.
• Recent analyst ratings show a mixed outlook for Electronic Arts, with two analysts rating it a Strong Buy while the consensus rating is a "Moderate Buy" with an average target price of $167.12.

Adage Capital Partners GP L.L.C. decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,466 shares of the game software company's stock after selling 6,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.08% of Electronic Arts worth $31,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EA. Vanguard Group Inc. lifted its stake in Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after buying an additional 150,438 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in Electronic Arts by 2.3% in the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock valued at $570,233,000 after buying an additional 88,767 shares in the last quarter. Invesco Ltd. lifted its stake in Electronic Arts by 15.6% in the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock valued at $539,563,000 after buying an additional 504,760 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after purchasing an additional 1,254,194 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Electronic Arts by 197.5% in the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after purchasing an additional 1,936,313 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup reiterated a "neutral" rating and issued a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Arete Research set a $192.00 price objective on shares of Electronic Arts in a report on Tuesday, August 5th. Robert W. Baird boosted their target price on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Argus set a $170.00 price objective on shares of Electronic Arts in a report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Stock Performance

Shares of EA stock traded up $2.64 on Wednesday, hitting $168.68. The company's stock had a trading volume of 589,385 shares, compared to its average volume of 3,400,721. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The stock's 50 day moving average is $162.09 and its 200-day moving average is $151.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $42.21 billion, a PE ratio of 42.38, a PEG ratio of 2.17 and a beta of 0.75.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. Electronic Arts's dividend payout ratio is 19.05%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $172.26, for a total transaction of $206,712.00. Following the sale, the insider directly owned 35,931 shares of the company's stock, valued at $6,189,474.06. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,900 shares of company stock worth $4,778,597 over the last three months. 0.24% of the stock is owned by insiders.

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.