Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 28.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,816 shares of the game software company's stock after buying an additional 8,356 shares during the period. Cerity Partners LLC's holdings in Electronic Arts were worth $5,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EA. Assenagon Asset Management S.A. grew its holdings in shares of Electronic Arts by 689.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock valued at $178,987,000 after purchasing an additional 1,081,589 shares during the period. FMR LLC grew its stake in shares of Electronic Arts by 224.8% in the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after buying an additional 835,985 shares during the period. Royal Bank of Canada increased its holdings in shares of Electronic Arts by 130.0% during the 4th quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock worth $175,758,000 after buying an additional 679,032 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after buying an additional 663,640 shares during the period. Finally, Norges Bank purchased a new position in Electronic Arts in the fourth quarter worth approximately $96,698,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EA shares. UBS Group increased their price target on Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wedbush upgraded shares of Electronic Arts to a "strong-buy" rating in a research report on Tuesday, July 1st. Hsbc Global Res raised shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. TD Cowen increased their price objective 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. Finally, Robert W. Baird set a $168.00 target price on shares of Electronic Arts in a report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.71.

Electronic Arts Stock Up 0.2%

NASDAQ EA traded up $0.28 during trading on Friday, reaching $150.11. 3,850,533 shares of the company's stock were exchanged, compared to its average volume of 2,817,412. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The company has a 50 day moving average price of $150.66 and a two-hundred day moving average price of $142.58. The stock has a market cap of $37.72 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio is currently 17.92%.

Insiders Place Their Bets

In related news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total transaction of $151,320.00. Following the transaction, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $150.64, for a total value of $753,200.00. Following the sale, the chief executive officer directly owned 62,393 shares of the company's stock, valued at approximately $9,398,881.52. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,729 shares of company stock valued at $4,788,684. 0.24% of the stock is owned by insiders.

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.