Deroy & Devereaux Private Investment Counsel Inc. Raises Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 108.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,304 shares of the game software company's stock after purchasing an additional 102,673 shares during the quarter. Electronic Arts makes up approximately 1.7% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 22nd largest holding. Deroy & Devereaux Private Investment Counsel Inc. owned 0.08% of Electronic Arts worth $28,514,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts in the first quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $33,000. Millstone Evans Group LLC bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $37,000. Finally, American National Bank & Trust bought a new position in shares of Electronic Arts in the first quarter worth approximately $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total value of $388,925.00. Following the transaction, the insider owned 40,189 shares of the company's stock, valued at $6,252,202.73. This represents a 5.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.64, for a total value of $224,460.00. Following the completion of the transaction, the executive vice president directly owned 17,533 shares in the company, valued at $2,623,638.12. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,729 shares of company stock worth $4,784,679. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EA. UBS Group increased their price target on shares of Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. TD Cowen increased their price target 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. Morgan Stanley increased their price target on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Benchmark increased their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts presently has an average rating of "Moderate Buy" and a consensus price target of $162.80.

Electronic Arts Price Performance

Shares of EA traded down $1.84 during mid-day trading on Monday, hitting $153.53. 2,502,773 shares of the stock were exchanged, compared to its average volume of 2,819,979. The company has a market cap of $38.58 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The firm has a 50-day moving average of $150.78 and a two-hundred day moving average of $142.38. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's dividend payout ratio is currently 17.92%.

Electronic Arts Company 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.