CCM Investment Group LLC Acquires New Position in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• CCM Investment Group LLC has acquired a new stake in Electronic Arts Inc., purchasing 11,264 shares valued at approximately $1,625,000.
• The company's shares have recently seen a rise of 3.0%, and the current stock is trading at $167.64, close to its 12-month high of $168.50.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with an annualized yield of 0.5%, set to be paid on September 17th.

CCM Investment Group LLC bought a new stake 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 Securities & Exchange Commission. The firm bought 11,264 shares of the game software company's stock, valued at approximately $1,625,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Management Professionals Inc. grew its holdings in 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 acquiring an additional 73 shares in the last quarter. Bank of Jackson Hole Trust grew its holdings in 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 in the last quarter. Whipplewood Advisors LLC grew its holdings in 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 in the last quarter. Clarius Group LLC grew its holdings in 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 in the last quarter. Finally, Conning Inc. grew its holdings in 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 in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts 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 directly owned 37,131 shares of the company's stock, valued at $5,923,508.43. This trade represents a 2.62% 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, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $148.69, for a total transaction of $223,035.00. Following the completion of the transaction, the executive vice president directly owned 29,948 shares in the company, valued at approximately $4,452,968.12. This trade represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,229 shares of company stock valued at $4,452,664 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EA shares. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. Robert W. Baird lifted their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Argus set a $170.00 price target on shares of Electronic Arts in a report on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a report on Tuesday, July 22nd. Finally, Benchmark lifted their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Price Performance

Shares of EA traded up $1.64 during mid-day trading on Thursday, hitting $180.04. The company's stock had a trading volume of 2,145,750 shares, compared to its average volume of 3,518,061. The firm has a 50-day moving average price of $155.00 and a 200 day moving average price of $145.02. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 2.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90.

Electronic Arts Announces Dividend

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 $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is 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.