Anderson Financial Strategies LLC Takes Position in Electronic Arts Inc. $EA

Key Points

• Anderson Financial Strategies LLC has acquired a new position in Electronic Arts Inc., purchasing 1,883 shares valued at approximately $272,000 during the first quarter.
• Institutional investors currently own 90.23% of Electronic Arts stock, with several hedge funds acquiring new stakes or increasing their positions recently.
• The company has announced a quarterly dividend of $0.19 per share, set to be paid on September 17, 2023, reflecting a 0.4% annual yield.

Anderson Financial Strategies LLC purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,883 shares of the game software company's stock, valued at approximately $272,000.

Other hedge funds have also modified their holdings of the company. Putney Financial Group LLC acquired a new position in shares of Electronic Arts in the 4th quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts during the first quarter valued at $28,000. Bank of Jackson Hole Trust boosted its position in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Electronic Arts in the first quarter worth about $39,000. Finally, American National Bank & Trust acquired a new stake in shares of Electronic Arts in the first quarter worth about $40,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on EA shares. UBS Group set a $167.00 price objective on Electronic Arts and gave the stock a "neutral" rating in a research note on Friday, August 1st. Wedbush reiterated an "outperform" rating and issued a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. DA Davidson boosted their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Finally, Robert W. Baird upped their price objective on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Two equities 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Trading Up 2.5%

Shares of NASDAQ:EA opened at $170.27 on Thursday. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a market capitalization of $42.60 billion, a P/E ratio of 42.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.75. The company has a 50-day simple moving average of $162.35 and a 200 day simple moving average of $151.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $174.65, for a total transaction of $209,580.00. Following the completion of the sale, the executive vice president directly owned 27,248 shares in the company, valued at $4,758,863.20. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total transaction of $171,060.00. Following the sale, the chief financial officer owned 15,140 shares of the company's stock, valued at $2,589,848.40. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,900 shares of company stock valued at $4,778,597. 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.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.