Electronic Arts Inc. $EA Shares Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp doubled its stake in Electronic Arts during the fourth quarter, buying an additional 60,000 shares to bring its total to 120,000 shares valued at about $24.5 million.
• Institutional ownership remains very high, with about 90.23% of Electronic Arts stock held by institutional investors and hedge funds, and several other funds also increased or opened positions.
• EA shares were little changed, opening at $202.15 and trading near their 52-week high, while analysts currently rate the stock a consensus “Hold” with an average price target of $196.64.

Alberta Investment Management Corp grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 100.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 120,000 shares of the game software company's stock after acquiring an additional 60,000 shares during the period. Alberta Investment Management Corp's holdings in Electronic Arts were worth $24,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Beacon Pointe Advisors LLC lifted its stake in Electronic Arts by 42.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,734 shares of the game software company's stock worth $354,000 after acquiring an additional 514 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Electronic Arts by 3.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 3,317 shares of the game software company's stock valued at $678,000 after acquiring an additional 104 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Electronic Arts in the 4th quarter valued at about $2,040,000. Mackenzie Financial Corp increased its holdings in shares of Electronic Arts by 5.3% in the 4th quarter. Mackenzie Financial Corp now owns 58,968 shares of the game software company's stock valued at $12,026,000 after purchasing an additional 2,979 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Electronic Arts by 69.2% in the fourth quarter. NewEdge Advisors LLC now owns 5,976 shares of the game software company's stock worth $1,221,000 after purchasing an additional 2,445 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Trading Down 0.4%

NASDAQ:EA opened at $202.15 on Friday. The company's 50 day moving average is $202.15 and its 200-day moving average is $202.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12 month low of $146.97 and a 12 month high of $204.88. The firm has a market cap of $50.69 billion, a price-to-earnings ratio of 57.92, a P/E/G ratio of 2.28 and a beta of 0.65.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was 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%.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total value of $508,025.00. Following the completion of the sale, the insider owned 43,343 shares in the company, valued at approximately $8,807,731.03. This trade represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of Electronic Arts stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the sale, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. This trade represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,906 shares of company stock worth $8,060,033 over the last ninety days. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Argus downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $196.64.

Electronic Arts Company 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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