Assetmark Inc. Acquires 4,584 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Assetmark Inc. increased its holdings in Electronic Arts Inc. by 28.9%, acquiring an additional 4,584 shares, bringing its total to 20,459 shares valued at approximately $2.96 million.
• Several institutional investors have recently initiated positions in Electronic Arts, contributing to total institutional ownership of 90.23% of the company's stock.
• Electronic Arts announced a quarterly dividend of $0.19 per share, set to be paid on September 17th, representing an annual yield of 0.51%.

Assetmark Inc. raised its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 28.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,459 shares of the game software company's stock after acquiring an additional 4,584 shares during the quarter. Assetmark Inc.'s holdings in Electronic Arts were worth $2,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EA. Brighton Jones LLC lifted its stake in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after buying an additional 294 shares during the period. LPL Financial LLC grew its holdings in shares of Electronic Arts by 6.3% during the fourth quarter. LPL Financial LLC now owns 94,888 shares of the game software company's stock worth $13,882,000 after purchasing an additional 5,652 shares during the last quarter. Norges Bank acquired a new position in shares of Electronic Arts during the fourth quarter worth approximately $96,698,000. Orion Portfolio Solutions LLC increased its stake in shares of Electronic Arts by 3.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,194 shares of the game software company's stock valued at $2,369,000 after buying an additional 543 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Electronic Arts by 591.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 696,861 shares of the game software company's stock valued at $101,951,000 after purchasing an additional 596,141 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group set a $167.00 price objective on shares of Electronic Arts and gave the stock a "neutral" rating in a report on Friday. Moffett Nathanson restated a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, May 7th. Roth Capital raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and increased their price target for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an "equal weight" rating in a research report on Monday, July 28th. Sixteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $164.21.

Insider Activity

In related news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the sale, the executive vice president owned 28,448 shares in the company, valued at $4,219,407.36. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 6,563 shares of Electronic Arts stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total transaction of $992,194.34. Following the sale, the chief executive officer directly owned 70,059 shares in the company, valued at $10,591,519.62. The trade was a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,729 shares of company stock worth $4,677,324 over the last ninety days. 0.24% of the stock is owned by insiders.

Electronic Arts Price Performance

EA stock traded up $4.59 during mid-day trading on Friday, hitting $157.08. 4,396,980 shares of the stock were exchanged, compared to its average volume of 2,517,279. The business has a fifty day moving average price of $151.42 and a 200 day moving average price of $143.24. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.95. The stock has a market capitalization of $39.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.98 and a beta of 0.72.

Electronic Arts Dividend Announcement

The company 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 $0.19 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. Electronic Arts's payout ratio is presently 19.05%.

Electronic Arts 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.