Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Electronic Arts Inc. by 14.2% during the first quarter, resulting in ownership of 458,888 shares valued at approximately $66.3 million.
• Insider trading activity included sales from executive vice president Jacob J. Schatz, who sold 1,500 shares for about $224,460, and insider Vijayanthimala Singh, who sold 1,000 shares for approximately $159,530.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with a payout scheduled for September 17th, leading to an annualized dividend yield of 0.5%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 458,888 shares of the game software company's stock after acquiring an additional 56,962 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Electronic Arts worth $66,318,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EA. Brighton Jones LLC lifted its position in Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after buying an additional 294 shares in the last quarter. Wedbush Securities Inc. lifted its position in Electronic Arts by 6.4% in the 4th quarter. Wedbush Securities Inc. now owns 1,503 shares of the game software company's stock worth $220,000 after buying an additional 91 shares in the last quarter. FMR LLC raised its holdings in shares of Electronic Arts by 224.8% during the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after purchasing an additional 835,985 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Electronic Arts by 1.0% during the 4th quarter. Cerity Partners LLC now owns 29,460 shares of the game software company's stock valued at $4,283,000 after purchasing an additional 283 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Electronic Arts during the 4th quarter valued at $34,334,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Up 5.1%

Shares of EA stock traded up $8.47 during trading on Monday, reaching $176.11. The company's stock had a trading volume of 6,124,643 shares, compared to its average volume of 3,047,745. The company has a market cap of $44.06 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 2.16 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $153.17 and a 200-day moving average price of $144.14. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $176.62.

Electronic Arts Announces Dividend

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

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.64, for a total value of $224,460.00. Following the transaction, the executive vice president directly owned 17,533 shares of the company's stock, valued at $2,623,638.12. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 6,563 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total transaction of $992,194.34. Following the sale, the chief executive officer owned 70,059 shares in the company, valued at $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,729 shares of company stock valued at $4,677,124 over the last three months. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EA. Moffett Nathanson reiterated a "neutral" rating and issued a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. TD Cowen increased their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a report on Tuesday, July 22nd. Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, Morgan Stanley increased their price target on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of "Moderate Buy" and an average price target of $167.12.

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.