Alyeska Investment Group L.P. Purchases Shares of 1,557,586 Electronic Arts Inc. $EA

Key Points

• Alyeska Investment Group L.P. acquired a new stake in Electronic Arts Inc., purchasing approximately $225.10 million worth of shares, making it the 14th largest holding in their portfolio.
• The company recently announced a quarterly dividend of $0.19 per share, reflecting an annualized yield of 0.4%.
• Analysts have raised their price targets for Electronic Arts stock, with recommendations ranging from "buy" to "strong-buy," suggesting a consensus target price of $167.12.

Alyeska Investment Group L.P. bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,557,586 shares of the game software company's stock, valued at approximately $225,102,000. Electronic Arts makes up approximately 0.9% of Alyeska Investment Group L.P.'s portfolio, making the stock its 14th largest position. Alyeska Investment Group L.P. owned about 0.60% of Electronic Arts as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EA. Putney Financial Group LLC bought a new stake in Electronic Arts in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts during the 1st quarter worth $28,000. Bank of Jackson Hole Trust increased its stake in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares during the period. Wayfinding Financial LLC bought a new position in Electronic Arts during the 1st quarter worth $39,000. Finally, American National Bank & Trust bought a new position in shares of Electronic Arts in the 1st quarter valued at $40,000. Institutional investors own 90.23% of the company's stock.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the sale, the chief executive officer owned 52,393 shares in the company, valued at approximately $8,961,822.65. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total value of $206,712.00. Following the completion of the sale, the insider owned 35,931 shares in the company, valued at $6,189,474.06. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,900 shares of company stock valued at $4,778,597 in the last ninety days. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $0.59 during trading on Friday, hitting $168.62. 2,205,511 shares of the company were exchanged, compared to its average volume of 2,839,614. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a market cap of $42.19 billion, a PE ratio of 42.26, a P/E/G ratio of 2.18 and a beta of 0.75. The stock has a 50 day moving average of $161.78 and a 200 day moving average of $150.51.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EA. Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective on the stock in a research note on Tuesday, August 5th. DA Davidson boosted their price objective on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Citigroup reaffirmed a "neutral" rating and set a $153.00 price target (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Finally, Robert W. Baird upped their price target on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

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.