GC Wealth Management RIA LLC Acquires Shares of 3,682 Electronic Arts Inc. $EA

Key Points

• GC Wealth Management RIA LLC has acquired 3,682 shares of Electronic Arts Inc., valued at approximately $588,000, according to its 13F filing with the SEC.
• Several institutional investors, including Goldman Sachs and Ameriprise Financial, significantly increased their stakes in Electronic Arts during the first quarter of the year.
• Electronic Arts has recently announced a quarterly dividend of $0.19 per share, with a yield of 0.4% and a payout ratio of 19.05%.

GC Wealth Management RIA LLC acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,682 shares of the game software company's stock, valued at approximately $588,000.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after purchasing an additional 150,438 shares in the last quarter. Independent Franchise Partners LLP grew its stake in Electronic Arts by 2.3% during the 1st quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock valued at $570,233,000 after purchasing an additional 88,767 shares in the last quarter. Invesco Ltd. grew its stake in Electronic Arts by 15.6% during the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock valued at $539,563,000 after purchasing an additional 504,760 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Electronic Arts by 62.7% in the 1st 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Electronic Arts by 197.5% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Down 0.2%

NASDAQ:EA opened at $201.70 on Wednesday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The firm has a market capitalization of $50.47 billion, a P/E ratio of 50.55, a P/E/G ratio of 3.05 and a beta of 0.75. 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 business has a 50 day simple moving average of $169.54 and a 200 day simple moving average of $155.44.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is presently 19.05%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird reiterated a "neutral" rating and issued a $210.00 target price (up previously from $170.00) on shares of Electronic Arts in a research report on Monday. DA Davidson lifted their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. HSBC lowered Electronic Arts from a "buy" rating to a "hold" rating and set a $191.00 target price for the company. in a research report on Monday. Argus lifted their target price on Electronic Arts from $180.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wedbush reiterated a "neutral" rating and issued a $200.00 target price on shares of Electronic Arts in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twenty-one have given a Hold rating to the company. According to MarketBeat, Electronic Arts currently has an average rating of "Hold" and an average target price of $176.04.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total transaction of $205,824.00. Following the sale, the executive vice president owned 26,080 shares of the company's stock, valued at $4,473,241.60. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $172.79, for a total value of $863,950.00. Following the sale, the chief executive officer directly owned 47,393 shares in the company, valued at $8,189,036.47. The trade was a 9.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,500 shares of company stock worth $6,743,160 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

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.

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