Financial Advisors Network Inc. Takes Position in Electronic Arts Inc. $EA

Key Points

• Financial Advisors Network Inc. acquired 15,993 shares of Electronic Arts Inc., valued at approximately $2.3 million, during the first quarter.
• A variety of research analysts have set new price targets for Electronic Arts, with Citigroup and JPMorgan Chase & Co. raising their targets significantly to $153.00 and $160.00, respectively.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with an ex-dividend date of August 27th.

Financial Advisors Network Inc. acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,993 shares of the game software company's stock, valued at approximately $2,311,000.

Other hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. grew its stake in Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after acquiring an additional 3,259 shares in the last quarter. CCM Investment Group LLC purchased a new position in Electronic Arts during the first quarter valued at approximately $1,625,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Electronic Arts by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after acquiring an additional 13,461 shares in the last quarter. Resona Asset Management Co. Ltd. grew its stake in Electronic Arts by 5.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,892 shares of the game software company's stock worth $15,300,000 after buying an additional 5,275 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Electronic Arts by 11,587.9% in the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after buying an additional 663,640 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Buying and Selling

In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm's 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 transaction, the executive vice president owned 29,948 shares of the company's stock, valued at approximately $4,452,968.12. This trade represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was 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 in the company, valued at approximately $9,032,725.08. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,200 shares of company stock valued at $4,142,660 in the last 90 days. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on EA. Benchmark boosted their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. TD Cowen boosted their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Oppenheimer boosted their price target on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Wedbush reissued an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Stock Performance

Shares of EA traded down $0.15 on Friday, reaching $171.40. The company's stock had a trading volume of 1,707,305 shares, compared to its average volume of 3,491,094. 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 stock has a market capitalization of $42.89 billion, a P/E ratio of 42.96, a PEG ratio of 2.21 and a beta of 0.72. The stock's 50 day simple moving average is $157.95 and its two-hundred day simple moving average is $147.23. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90.

Electronic Arts Announces Dividend

The firm also recently disclosed 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 of this dividend 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 presently 19.05%.

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.