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Bayforest Capital Ltd Takes $420,000 Position in Electronic Arts Inc. (NASDAQ:EA)

Electronic Arts logo with Consumer Discretionary background

Key Points

  • Bayforest Capital Ltd has acquired 2,908 shares of Electronic Arts Inc., valued at approximately $420,000, marking a significant new investment in the gaming company.
  • The company announced a quarterly dividend of $0.19 per share, which will be distributed on September 17th, representing a 0.49% yield.
  • Analysts have recently upgraded their target prices for Electronic Arts, with some forecasting a price of up to $185.00, indicating bullish sentiment around the stock.
  • Five stocks to consider instead of Electronic Arts.

Bayforest Capital Ltd bought a new position in Electronic Arts Inc. (NASDAQ:EA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,908 shares of the game software company's stock, valued at approximately $420,000.

A number of other hedge funds have also bought and sold shares of EA. Brighton Jones LLC increased its position in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after purchasing an additional 294 shares during the last quarter. LPL Financial LLC increased its position in shares of Electronic Arts by 6.3% during the 4th quarter. LPL Financial LLC now owns 94,888 shares of the game software company's stock valued at $13,882,000 after purchasing an additional 5,652 shares during the last quarter. Norges Bank purchased a new stake in shares of Electronic Arts during the 4th quarter valued at about $96,698,000. Orion Portfolio Solutions LLC increased its position in shares of Electronic Arts by 3.5% during 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 purchasing an additional 543 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Electronic Arts by 15.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,174 shares of the game software company's stock valued at $313,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Price Performance

EA stock traded up $4.59 during midday trading on Friday, hitting $157.08. The company's stock had a trading volume of 4,396,980 shares, compared to its average volume of 2,517,279. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $39.47 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.72. The company has a 50 day moving average of $151.42 and a two-hundred day moving average of $143.24.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. 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 is currently 19.05%.

Analyst Ratings Changes

Several research firms have recently commented on EA. Bank of America upped their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday. Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Finally, Morgan Stanley boosted their price objective on Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $164.21.

Get Our Latest Research Report on Electronic Arts

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $159.50, for a total transaction of $398,750.00. Following the completion of the transaction, the insider directly owned 60,592 shares in the company, valued at approximately $9,664,424. This represents a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the transaction, the insider owned 37,131 shares of the company's stock, valued at $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,729 shares of company stock valued at $4,677,324 over the last quarter. 0.24% of the stock is owned by insiders.

Electronic Arts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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