KLP Kapitalforvaltning AS Increases Stock Position in Electronic Arts Inc. $EA

Key Points

• KLP Kapitalforvaltning AS increased its stake in Electronic Arts Inc. by 2.3%, acquiring an additional 2,000 shares, bringing its total holdings to 88,533 shares valued at approximately $14.14 million.
• In the second quarter, a number of institutional investors, including Vanguard Group and Invesco Ltd., also raised their stakes in Electronic Arts, indicating strong interest from major players in the gaming industry.
• Electronic Arts has announced a quarterly dividend of $0.19 per share, reflecting a 0.4% yield and a payout ratio of 19.05%.

KLP Kapitalforvaltning AS boosted its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,533 shares of the game software company's stock after buying an additional 2,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Electronic Arts were worth $14,139,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after acquiring an additional 150,438 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Electronic Arts by 4.6% in the 2nd quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company's stock valued at $695,645,000 after purchasing an additional 193,442 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Electronic Arts by 2.3% during the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock valued at $570,233,000 after buying an additional 88,767 shares during the period. Invesco Ltd. lifted its stake in shares of Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock valued at $539,563,000 after buying an additional 504,760 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Electronic Arts by 62.7% during 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 purchasing an additional 1,254,194 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $200.01 on Thursday. The company has a market cap of $50.04 billion, a P/E ratio of 50.13, a PEG ratio of 3.04 and a beta of 0.77. The business's 50-day simple moving average is $175.34 and its 200 day simple moving average is $157.75. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors 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 19.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wedbush reissued a "neutral" rating and set a $200.00 price target on shares of Electronic Arts in a research note on Monday, September 29th. BMO Capital Markets increased their price objective on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a "market perform" rating in a report on Tuesday, September 30th. Wells Fargo & Company set a $168.00 price objective on shares of Electronic Arts and gave the stock an "equal weight" rating in a report on Monday, July 28th. Baird R W downgraded shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Bank of America increased their target price on Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $177.00.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $244,080.00. Following the sale, the insider directly owned 33,531 shares in the company, valued at $6,820,205.40. The trade was a 3.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $201.79, for a total value of $504,475.00. Following the sale, the insider owned 53,092 shares in the company, valued at $10,713,434.68. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,000 shares of company stock valued at $7,247,635. Company insiders own 0.24% of the company's stock.

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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