Corient Private Wealth LLC Raises Holdings in Electronic Arts Inc. $EA

Key Points

• Corient Private Wealth LLC boosted its stake in Electronic Arts by 73.2% in the fourth quarter, ending with 45,435 shares valued at about $9.3 million.
• EA shares were trading near their 52-week high at $204.52, giving the company a market cap of about $51.3 billion. The stock also carries a “Hold” consensus rating with an average target price of $196.64.
• Electronic Arts recently paid a quarterly dividend of $0.19 per share, or $0.76 annualized, for a yield of about 0.4%. Meanwhile, insiders sold shares in recent months, including EVP Jacob J. Schatz and CFO Stuart Canfield.

Corient Private Wealth LLC increased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 73.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 45,435 shares of the game software company's stock after acquiring an additional 19,206 shares during the quarter. Corient Private Wealth LLC's holdings in Electronic Arts were worth $9,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EA. EverSource Wealth Advisors LLC raised its position in shares of Electronic Arts by 2.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,108 shares of the game software company's stock valued at $425,000 after purchasing an additional 50 shares during the period. Salomon & Ludwin LLC boosted its holdings in Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock worth $47,000 after buying an additional 57 shares during the period. Macroview Investment Management LLC boosted its holdings in Electronic Arts by 6.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company's stock worth $218,000 after buying an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in Electronic Arts by 2.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the game software company's stock valued at $506,000 after buying an additional 68 shares in the last quarter. Finally, 44 Wealth Management LLC grew its stake in Electronic Arts by 0.9% in the 3rd quarter. 44 Wealth Management LLC now owns 7,555 shares of the game software company's stock valued at $1,524,000 after buying an additional 68 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Trading Up 0.5%

Shares of EA stock opened at $204.52 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $202.19 and a two-hundred day moving average price of $202.40. Electronic Arts Inc. has a 12-month low of $146.97 and a 12-month high of $204.89. The firm has a market cap of $51.28 billion, a P/E ratio of 58.60, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio is currently 21.78%.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. The trade was a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer directly owned 25,991 shares of the company's stock, valued at $5,233,547.76. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 39,906 shares of company stock valued at $8,060,033 over the last 90 days. Company insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

EA has been the topic of several recent research reports. Citigroup increased their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Argus lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised Electronic Arts to a "hold" rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $196.64.

Electronic Arts Profile

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.

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