Electronic Arts Inc. $EA Stake Increased by Optimize Financial Inc

Key Points

• Optimize Financial Inc increased its stake in Electronic Arts Inc. by 50.3%, owning a total of 10,160 shares valued at approximately $1.47 million.
• Various hedge funds, including Financial Management Professionals Inc. and Bank of Jackson Hole Trust, also boosted their holdings in Electronic Arts during the first quarter, indicating strong institutional interest with 90.23% of the stock owned by institutional investors.
• Electronic Arts has announced a quarterly dividend of $0.19 per share, with a yield of 0.5% and an annualized dividend payout ratio of 19.05%.

Optimize Financial Inc increased its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 50.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,160 shares of the game software company's stock after acquiring an additional 3,399 shares during the period. Optimize Financial Inc's holdings in Electronic Arts were worth $1,468,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EA. Ameriprise Financial Inc. boosted its position in shares of Electronic Arts by 197.5% in the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock worth $421,524,000 after acquiring an additional 1,936,313 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Electronic Arts in the first quarter worth approximately $225,102,000. Nuveen LLC acquired a new stake in shares of Electronic Arts in the first quarter worth approximately $203,537,000. Goldman Sachs Group Inc. boosted its position in shares of Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after acquiring an additional 1,254,194 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Electronic Arts by 3,477.8% in the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock worth $168,185,000 after acquiring an additional 1,131,220 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Down 0.2%

Shares of EA traded down $0.38 during mid-day trading on Thursday, reaching $169.89. 2,410,758 shares of the stock traded hands, compared to its average volume of 2,374,967. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 42.58, a P/E/G ratio of 2.20 and a beta of 0.75. The stock has a fifty day simple moving average of $162.64 and a 200 day simple moving average of $151.40. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EA shares. Argus set a $170.00 target price on shares of Electronic Arts in a research report on Friday, May 16th. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target on the stock in a report on Tuesday, August 5th. Robert W. Baird raised their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Arete Research set a $192.00 price target on shares of Electronic Arts in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the sale, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total transaction of $171,060.00. Following the sale, the chief financial officer owned 15,140 shares in the company, valued at $2,589,848.40. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,900 shares of company stock valued at $4,778,597. 0.24% of the stock is currently owned by corporate insiders.

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.