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Electronic Arts Inc. (NASDAQ:EA) is Leith Wheeler Investment Counsel Ltd.'s 4th Largest Position

Electronic Arts logo with Consumer Discretionary background

Key Points

  • Leith Wheeler Investment Counsel Ltd. increased its stake in Electronic Arts Inc. by 7.5%, acquiring an additional 21,455 shares, which now represents 3.1% of its portfolio.
  • Electronic Arts declared a quarterly dividend of $0.19 per share, with stockholders on record set to receive it on September 17th, resulting in an annual dividend yield of 0.4%.
  • The company's stock has shown significant fluctuations, with a 1-year range of $115.21 to $178.80, and analysts have issued a consensus rating of "Moderate Buy" with an average price target of $167.12.
  • Want stock alerts on Electronic Arts? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 305,896 shares of the game software company's stock after purchasing an additional 21,455 shares during the quarter. Electronic Arts accounts for about 3.1% of Leith Wheeler Investment Counsel Ltd.'s holdings, making the stock its 4th largest position. Leith Wheeler Investment Counsel Ltd. owned about 0.12% of Electronic Arts worth $44,208,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nomura Holdings Inc. increased its stake in Electronic Arts by 11.7% in the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after acquiring an additional 3,259 shares during the last quarter. CCM Investment Group LLC bought a new position in shares of Electronic Arts during the 1st quarter valued at about $1,625,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Electronic Arts by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after purchasing an additional 13,461 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after purchasing an additional 663,640 shares during the last quarter. Finally, Arlington Partners LLC increased its position in shares of Electronic Arts by 23.3% during the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock valued at $4,991,000 after purchasing an additional 6,532 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. DA Davidson increased their price objective on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the company an "equal weight" rating in a research report on Monday, July 28th. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Moffett Nathanson reiterated a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Finally, Argus set a $170.00 target price on Electronic Arts in a report on Friday, May 16th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts has an average rating of "Moderate Buy" and an average target price of $167.12.

Get Our Latest Stock Report on EA

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 6,563 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the transaction, the chief executive officer directly owned 70,059 shares of the company's stock, valued at approximately $10,591,519.62. This trade represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,229 shares of company stock worth $4,452,664 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Stock Down 2.4%

Shares of NASDAQ:EA traded down $4.34 during trading on Friday, hitting $174.67. The stock had a trading volume of 3,428,521 shares, compared to its average volume of 3,477,202. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $180.90. The company has a market capitalization of $43.70 billion, a PE ratio of 43.78, a PEG ratio of 2.31 and a beta of 0.72. The firm's fifty day moving average is $156.13 and its 200 day moving average is $145.84. 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 Announces Dividend

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

Electronic Arts Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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