Kovitz Investment Group Partners LLC Acquires 24,816 Shares of Electronic Arts Inc. $EA

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Electronic Arts Inc. by 519.2% in the first quarter, owning 29,596 shares valued at approximately $4.28 million.
• Electronic Arts recently announced a quarterly dividend of $0.19, with a yield of 0.4%, to be paid on September 17th to shareholders of record on August 27th.
• Several analysts have recently upgraded their ratings for Electronic Arts, with the consensus rating now being a "Moderate Buy" and a price target of $167.12.

Kovitz Investment Group Partners LLC boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 519.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,596 shares of the game software company's stock after acquiring an additional 24,816 shares during the period. Kovitz Investment Group Partners LLC's holdings in Electronic Arts were worth $4,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Putney Financial Group LLC purchased a new stake in Electronic Arts in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the first quarter valued at $28,000. Bank of Jackson Hole Trust boosted its stake in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Electronic Arts during the 4th quarter worth about $33,000. Finally, Wayfinding Financial LLC acquired a new position in Electronic Arts in the 1st quarter valued at about $39,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Down 0.6%

NASDAQ EA traded down $1.0590 during trading on Friday, reaching $170.4910. The company's stock had a trading volume of 501,768 shares, compared to its average volume of 3,482,981. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The business has a 50-day moving average price of $157.95 and a 200-day moving average price of $147.23. The stock has a market capitalization of $42.66 billion, a PE ratio of 42.72, a PEG ratio of 2.21 and a beta of 0.72.

Electronic Arts Announces Dividend

The company 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Argus set a $170.00 target price on shares of Electronic Arts in a research note on Friday, May 16th. Arete Research set a $192.00 price target on Electronic Arts in a report on Tuesday, August 5th. TD Cowen increased their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research report on Wednesday, May 7th. Two research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $167.12.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total value of $171,060.00. Following the sale, the chief financial officer directly owned 15,140 shares of the company's stock, valued at approximately $2,589,848.40. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the transaction, the chief executive officer owned 52,393 shares in the company, valued at $8,961,822.65. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,200 shares of company stock worth $4,142,660 in the last ninety days. 0.24% of the stock is owned by insiders.

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.