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Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Charles Schwab Investment Management Inc.

Electronic Arts logo with Consumer Discretionary background

Key Points

  • Charles Schwab Investment Management Inc. increased its stake in Electronic Arts by 1.4%, owning 1,477,089 shares valued at approximately $213.5 million as of the latest filing.
  • Several major institutional investors, including Goldman Sachs and ING Groep, significantly boosted their stakes in Electronic Arts during the first quarter, indicating strong investor confidence in the company.
  • Electronic Arts' recent analyst upgrades include a shift to a "buy" rating from Arete and HSBC, with target prices set at $192.00 and $190.00, respectively, reflecting a consensus rating of "Moderate Buy."
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Charles Schwab Investment Management Inc. raised its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477,089 shares of the game software company's stock after acquiring an additional 20,569 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of Electronic Arts worth $213,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Electronic Arts by 62.7% during 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 buying an additional 1,254,194 shares during the period. ING Groep NV boosted its stake in shares of Electronic Arts by 3,477.8% during the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock worth $168,185,000 after buying an additional 1,131,220 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Electronic Arts by 689.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after buying an additional 1,081,589 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Electronic Arts by 1,366.6% during the first quarter. Pacer Advisors Inc. now owns 1,118,685 shares of the game software company's stock worth $161,672,000 after buying an additional 1,042,407 shares during the period. Finally, FMR LLC boosted its stake in shares of Electronic Arts by 224.8% during the fourth quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock worth $176,709,000 after buying an additional 835,985 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Analyst Ratings Changes

EA has been the subject of several recent research reports. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price for the company in a research note on Tuesday, August 5th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research note on Wednesday, May 7th. Argus set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, May 16th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group raised their price objective 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. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.35.

Get Our Latest Stock Analysis on EA

Electronic Arts Trading Up 3.0%

Shares of EA opened at $167.64 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $153.17 and a 200-day simple moving average of $143.97. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The stock has a market cap of $41.95 billion, a price-to-earnings ratio of 42.02, a price-to-earnings-growth ratio of 2.16 and a beta of 0.72.

Electronic Arts Dividend Announcement

The firm 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares of the company's stock, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.64, for a total transaction of $224,460.00. Following the transaction, the executive vice president directly owned 17,533 shares of the company's stock, valued at approximately $2,623,638.12. This trade represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,729 shares of company stock valued at $4,677,124. Company insiders own 0.24% of the company's stock.

About Electronic Arts

(Free Report)

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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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