Invesco Ltd. Boosts Stake in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Invesco Ltd. increased its stake in Electronic Arts by 15.6%, owning approximately 3.7 million shares valued at around $539.6 million at the end of the most recent quarter.
• A range of hedge funds, including Nomura Holdings and GAMMA Investing, also boosted their positions in Electronic Arts, demonstrating a strong institutional interest as they collectively own 90.23% of the company's stock.
• Analysts have set new price targets for Electronic Arts, with ratings indicating a consensus of "Moderate Buy" and an average price target of $166.35, reflecting positive market sentiment about the company's future performance.

Invesco Ltd. grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,733,481 shares of the game software company's stock after buying an additional 504,760 shares during the quarter. Invesco Ltd. owned 1.43% of Electronic Arts worth $539,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EA. Nomura Holdings Inc. raised its position in Electronic Arts by 11.7% in the 4th quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock worth $4,566,000 after purchasing an additional 3,259 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock worth $94,456,000 after purchasing an additional 13,461 shares during the period. GAMMA Investing LLC raised its position 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 purchasing an additional 663,640 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Electronic Arts by 45.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company's stock worth $2,370,000 after purchasing an additional 5,130 shares during the period. Finally, Arlington Partners LLC raised its position in Electronic Arts by 23.3% in the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock worth $4,991,000 after purchasing an additional 6,532 shares during the period. Institutional investors own 90.23% of the company's stock.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the sale, the insider directly owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider directly owned 37,131 shares in the company, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,729 shares of company stock valued at $4,677,124. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EA has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley lifted their target price on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Oppenheimer increased their price target on shares of Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Wednesday, May 7th. Finally, Robert W. Baird increased their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.35.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $167.64 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $41.95 billion, a P/E ratio of 42.02, a P/E/G ratio of 2.16 and a beta of 0.72. The business has a fifty day simple moving average of $153.17 and a two-hundred day simple moving average of $144.14. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid a $0.19 dividend. 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 is currently 19.05%.

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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