Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Electronic Arts by 96.8% during the first quarter, bringing its total holdings to 7,295 shares valued at approximately $1.05 million.
• Various hedge funds have also boosted their positions in Electronic Arts, with 90.23% of the company's stock now owned by institutional investors and hedge funds.
• Electronic Arts recently declared a quarterly dividend of $0.19 per share, with an annualized dividend yield of 0.4%, targeting payment to investors of record on August 27th.

E Fund Management Co. Ltd. grew its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 96.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,295 shares of the game software company's stock after acquiring an additional 3,588 shares during the period. E Fund Management Co. Ltd.'s holdings in Electronic Arts were worth $1,054,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after buying an additional 294 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Electronic Arts during the fourth quarter worth $34,334,000. Townsquare Capital LLC boosted its holdings in Electronic Arts by 35.6% during the fourth quarter. Townsquare Capital LLC now owns 5,278 shares of the game software company's stock worth $772,000 after buying an additional 1,387 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in Electronic Arts during the fourth quarter worth $217,000. Finally, Mariner LLC raised its position in Electronic Arts by 15.0% during the fourth quarter. Mariner LLC now owns 37,854 shares of the game software company's stock worth $5,538,000 after acquiring an additional 4,938 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EA. Benchmark raised their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Bank of America raised their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $175.00 to $185.00 in a research report on Tuesday, June 24th. Citigroup reaffirmed a "neutral" rating and set a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Finally, UBS Group set a $167.00 target price on shares of Electronic Arts and gave the stock a "neutral" rating in a research note on Friday, August 1st. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Trading Down 2.4%

NASDAQ:EA traded down $4.34 on Friday, reaching $174.67. The stock had a trading volume of 3,428,521 shares, compared to its average volume of 3,477,202. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 2.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm's fifty day moving average is $156.13 and its two-hundred day moving average is $146.04. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is presently 19.05%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total value of $223,035.00. Following the completion of the sale, the executive vice president owned 29,948 shares of the company's stock, valued at $4,452,968.12. This trade represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 6,563 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total transaction of $992,194.34. Following the completion of the sale, the chief executive officer directly owned 70,059 shares of the company's stock, valued at $10,591,519.62. This trade represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,229 shares of company stock valued at $4,452,664 in the last three months. 0.24% of the stock is owned by company 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.