Maridea Wealth Management LLC Takes $445,000 Position in Electronic Arts Inc. $EA

Key Points

• Maridea Wealth Management LLC has acquired a new position in Electronic Arts Inc., purchasing 2,784 shares valued at approximately $445,000.
• Over 90% of Electronic Arts' stock is owned by institutional investors, indicating strong interest and support from large financial entities.
• Several analysts have recently upgraded their ratings on Electronic Arts, with the consensus rating now categorized as "Moderate Buy" and an average price target of $167.40.

Maridea Wealth Management LLC purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,784 shares of the game software company's stock, valued at approximately $445,000.

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $319,000. CCM Investment Group LLC bought a new position in Electronic Arts during the first quarter worth about $1,625,000. Sumitomo Mitsui Trust Group Inc. raised its stake 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 in the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Electronic Arts by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 91,328 shares of the game software company's stock valued at $13,944,000 after purchasing an additional 3,999 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Electronic Arts by 5.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,892 shares of the game software company's stock worth $15,300,000 after purchasing an additional 5,275 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EA has been the topic of several recent research reports. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a report on Tuesday, August 5th. Bank of America raised their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and upped their target price for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Finally, DA Davidson boosted their price target on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Electronic Arts has a consensus rating of "Moderate Buy" and an average price target of $167.40.

Electronic Arts Trading Up 0.6%

Shares of EA opened at $168.32 on Friday. 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 Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The firm has a market cap of $42.12 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.54 and a beta of 0.75. The business's fifty day moving average is $166.81 and its 200-day moving average is $154.05.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $152.21, for a total transaction of $761,050.00. Following the completion of the transaction, the chief executive officer directly owned 57,393 shares in the company, valued at $8,735,788.53. This represents a 8.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,800 shares of company stock worth $5,077,960 in the last ninety days. 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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