Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its holdings in Electronic Arts by 1.6% during Q1, owning 601,494 shares, making up about 0.8% of its total investments.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, with the payout expected on September 17th, 2023.
• Analysts have set various target prices for Electronic Arts, with HSBC upgrading its rating to "buy" with a target of $190.00, reflecting a generally positive outlook.

Jupiter Asset Management Ltd. boosted its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 601,494 shares of the game software company's stock after buying an additional 9,292 shares during the period. Electronic Arts accounts for approximately 0.8% of Jupiter Asset Management Ltd.'s holdings, making the stock its 16th largest holding. Jupiter Asset Management Ltd. owned approximately 0.23% of Electronic Arts worth $86,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the first quarter worth about $28,000. Bank of Jackson Hole Trust lifted its stake in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth about $33,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Electronic Arts during the first quarter worth about $39,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EA. HSBC upgraded 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 target price on Electronic Arts in a research note on Friday, May 16th. Benchmark raised their target price on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Moffett Nathanson restated a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. Finally, Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Sixteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Electronic Arts currently has a consensus rating of "Hold" and an average price target of $164.21.

Electronic Arts Stock Performance

Shares of EA stock opened at $157.08 on Friday. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a current ratio of 0.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.98 and a beta of 0.72. The stock's fifty day simple moving average is $151.42 and its 200-day simple moving average is $143.24.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. Electronic Arts's dividend payout ratio (DPR) is presently 19.05%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $152.21, for a total transaction of $761,050.00. Following the transaction, the chief executive officer directly owned 57,393 shares of the company's stock, valued at $8,735,788.53. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the transaction, the executive vice president owned 28,448 shares in the company, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,729 shares of company stock valued at $4,677,324. 0.24% of the stock is currently owned by company 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.

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