Merit Financial Group LLC Has $805,000 Holdings in Electronic Arts Inc. (NASDAQ:EA)

Merit Financial Group LLC lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 161.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,573 shares of the game software company's stock after acquiring an additional 3,440 shares during the period. Merit Financial Group LLC's holdings in Electronic Arts were worth $805,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EA. Putney Financial Group LLC purchased a new stake in shares of Electronic Arts during the 4th quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Electronic Arts in the fourth quarter worth $33,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts in the 4th quarter valued at $37,000. Finally, American National Bank & Trust acquired a new position in shares of Electronic Arts during the 1st quarter valued at $40,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total value of $145,000.00. Following the sale, the insider now owns 26,216 shares of the company's stock, valued at $3,801,320. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 2,666 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total value of $402,379.38. Following the sale, the chief executive officer now directly owns 67,393 shares in the company, valued at $10,171,625.49. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock worth $4,107,664 over the last ninety days. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EA. Moffett Nathanson reissued a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wedbush upped their target price on shares of Electronic Arts from $179.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and set a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Finally, Benchmark boosted their price objective on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Electronic Arts presently has a consensus rating of "Hold" and a consensus target price of $161.88.

Electronic Arts Stock Up 0.2%

Shares of EA traded up $0.24 during trading hours on Tuesday, hitting $147.16. 4,221,027 shares of the company were exchanged, compared to its average volume of 2,759,516. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $36.90 billion, a PE ratio of 37.45, a PEG ratio of 3.58 and a beta of 0.71. The firm's 50 day moving average is $145.95 and its 200-day moving average is $143.44. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts's dividend payout ratio is 17.92%.

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.