CIBC Asset Management Inc Grows Stock Holdings in Electronic Arts Inc. $EA

Key Points

• CIBC Asset Management boosted its Electronic Arts stake by 28.4% in the fourth quarter, buying 22,129 additional shares and bringing its total holdings to 100,112 shares worth about $20.5 million.
• Institutional ownership remains heavy, with the article noting that 90.23% of EA shares are held by hedge funds and other institutional investors. Several smaller funds also increased or initiated positions in the company.
• Analyst sentiment is largely cautious: EA has a consensus Hold rating and a consensus price target of $196.64, while recent insider activity included sales by CFO Stuart Canfield and EVP Jacob J. Schatz under pre-arranged trading plans.

CIBC Asset Management Inc raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 28.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,112 shares of the game software company's stock after purchasing an additional 22,129 shares during the quarter. CIBC Asset Management Inc's holdings in Electronic Arts were worth $20,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ameriflex Group Inc. increased its holdings in shares of Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company's stock worth $28,000 after buying an additional 69 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Electronic Arts in the 4th quarter valued at about $44,000. Geneos Wealth Management Inc. grew its position in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after acquiring an additional 190 shares in the last quarter. Salomon & Ludwin LLC grew its position in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Asset Dedication LLC increased its stake in Electronic Arts by 333.3% during the third quarter. Asset Dedication LLC now owns 260 shares of the game software company's stock worth $52,000 after acquiring an additional 200 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EA has been the subject of several analyst reports. Weiss Ratings raised Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Argus downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $196.64.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer owned 25,991 shares in the company, valued at $5,233,547.76. The trade was a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the transaction, the executive vice president directly owned 42,287 shares in the company, valued at $8,507,721.53. This trade represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 39,906 shares of company stock valued at $8,032,336. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $203.40 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12 month low of $145.54 and a 12 month high of $204.88. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 58.28, a PEG ratio of 2.23 and a beta of 0.65. The firm's 50-day moving average is $202.20 and its 200 day moving average is $202.29.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio is currently 21.78%.

About Electronic Arts

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.