CCM Investment Group LLC Takes 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 shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,264 shares of the game software company's stock, valued at approximately $1,625,000.

Other hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts during the 1st quarter worth about $28,000. Bank of Jackson Hole Trust raised its position in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares during the period. LGT Financial Advisors LLC purchased a new position in Electronic Arts during the fourth quarter valued at approximately $33,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Electronic Arts during the first quarter worth $39,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $152.21, for a total value of $761,050.00. Following the sale, the chief executive officer owned 57,393 shares of the company's stock, valued at approximately $8,735,788.53. This represents a 8.01% 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 $4,677,124 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Bank of America increased their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. TD Cowen lifted their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Argus set a $170.00 price objective on Electronic Arts in a research note on Friday, May 16th. Finally, Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target for the company in a report on Tuesday, August 5th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Stock Performance

NASDAQ:EA traded up $0.49 during mid-day trading on Wednesday, reaching $178.40. 3,564,965 shares of the company's stock were exchanged, compared to its average volume of 3,527,443. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $179.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The business's fifty day simple moving average is $154.41 and its two-hundred day simple moving average is $144.79. The firm has a market capitalization of $44.64 billion, a PE ratio of 44.71, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts's dividend payout ratio is currently 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.