AQR Capital Management LLC Buys 628,822 Shares of Electronic Arts Inc. $EA

Key Points

• AQR Capital Management LLC has increased its stake in Electronic Arts Inc. (EA) by 79.5%, acquiring an additional 628,822 shares to own a total of 1,419,345 shares, valued at approximately $204.5 million.
• Other institutional investors have also significantly increased their stakes in EA, with Ameriprise Financial lifting its holdings by 197.5% and ING Groep NV increasing its stake by an astonishing 3,477.8% in the same quarter.
• Electronic Arts recently declared a quarterly dividend of $0.19 per share, payable on September 17th, reflecting a 0.5% annual dividend yield with a payout ratio of 19.05%.

AQR Capital Management LLC grew its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 79.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,419,345 shares of the game software company's stock after buying an additional 628,822 shares during the quarter. AQR Capital Management LLC owned 0.54% of Electronic Arts worth $204,513,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in shares of Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares during the last quarter. Bank of Jackson Hole Trust lifted its holdings in shares of 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. Whipplewood Advisors LLC lifted its holdings in shares of Electronic Arts by 34.2% during the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after acquiring an additional 76 shares during the period. Clarius Group LLC lifted its holdings in shares of Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after acquiring an additional 77 shares during the period. Finally, Conning Inc. lifted its holdings in shares of Electronic Arts by 4.7% during the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EA shares. Arete Research set a $192.00 price objective on shares of Electronic Arts in a report on Tuesday, August 5th. Bank of America lifted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Argus set a $170.00 target price on Electronic Arts in a research note on Friday, May 16th. Two equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Stock Performance

Shares of EA stock traded down $0.56 during trading hours on Monday, reaching $168.06. 1,665,440 shares of the company's stock were exchanged, compared to its average volume of 3,425,461. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The stock has a market capitalization of $42.05 billion, a P/E ratio of 42.12, a P/E/G ratio of 2.18 and a beta of 0.75. The business has a fifty day moving average price of $161.78 and a 200-day moving average price of $150.65. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders 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 yield of 0.5%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio is 19.05%.

Insider Transactions at Electronic Arts

In other news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 15,140 shares of the company's stock, valued at $2,589,848.40. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the transaction, the chief executive officer directly owned 52,393 shares in the company, valued at $8,961,822.65. The trade was a 8.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,900 shares of company stock valued at $4,778,597. 0.24% of the stock is owned by insiders.

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.