Independent Franchise Partners LLP Acquires 88,767 Shares of Electronic Arts Inc. $EA

Key Points

• Independent Franchise Partners LLP increased its stake in Electronic Arts Inc. by 2.3%, owning a total of 3,945,702 shares valued at approximately $570.2 million.
• The company recently declared a quarterly dividend of $0.19 per share, reflecting an annualized yield of 0.4%.
• Analyst ratings for EA are mixed, with two strong buy ratings and various price target adjustments, suggesting a current consensus target price of $167.12.

Independent Franchise Partners LLP boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,945,702 shares of the game software company's stock after acquiring an additional 88,767 shares during the period. Electronic Arts comprises about 4.1% of Independent Franchise Partners LLP's portfolio, making the stock its 14th largest position. Independent Franchise Partners LLP owned approximately 1.51% of Electronic Arts worth $570,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in Electronic Arts during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts during the 1st quarter worth about $28,000. Bank of Jackson Hole Trust boosted its holdings in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $33,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Electronic Arts in the 1st quarter valued at about $39,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Down 0.1%

EA stock opened at $171.40 on Friday. The firm has a 50 day moving average of $158.41 and a 200 day moving average of $147.70. The stock has a market capitalization of $42.89 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $174.65, for a total transaction of $209,580.00. Following the sale, the executive vice president owned 27,248 shares of the company's stock, valued at approximately $4,758,863.20. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,200 shares of company stock worth $4,142,660 over the last ninety days. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark raised their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. The Goldman Sachs Group raised their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their price target for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. Finally, Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $167.12.

Electronic Arts 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.

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.