Castlekeep Investment Advisors LLC Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Castlekeep Investment Advisors LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,093 shares of the game software company's stock, valued at approximately $2,354,000.

A number of other hedge funds also recently added to or reduced their stakes in EA. Swedbank AB raised its position in Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company's stock worth $235,224,000 after acquiring an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in Electronic Arts in the 4th quarter valued at approximately $217,000. Huntington National Bank grew its holdings in Electronic Arts by 31.4% during the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock valued at $49,577,000 after buying an additional 80,968 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Electronic Arts by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company's stock worth $213,089,000 after buying an additional 36,153 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new position in Electronic Arts during the fourth quarter worth $3,730,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Electronic Arts from $145.00 to $142.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a report on Wednesday, May 7th. Argus set a $170.00 price target on shares of Electronic Arts in a report on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of Electronic Arts in a research report on Thursday. Finally, TD Cowen raised their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Fifteen research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $161.29.

Electronic Arts Stock Down 3.2%

Shares of NASDAQ:EA traded down $4.68 during midday trading on Thursday, hitting $142.20. 1,417,624 shares of the company's stock traded hands, compared to its average volume of 2,725,866. The firm's fifty day moving average price is $145.71 and its two-hundred day moving average price is $144.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a market cap of $35.66 billion, a PE ratio of 36.22, a P/E/G ratio of 3.58 and a beta of 0.74.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.53%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the sale, the insider now owns 26,216 shares in the company, valued at $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,615 shares in the company, valued at approximately $4,647,637.50. This trade represents a 13.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock worth $4,107,664 over the last ninety days. Corporate insiders own 0.22% of the company's stock.

About Electronic Arts

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.