Morningstar Investment Management LLC Purchases New Stake in Electronic Arts Inc. $EA

Key Points

• Morningstar Investment Management LLC has acquired a new stake in Electronic Arts Inc., purchasing 2,075 shares valued at approximately $331,000 during the second quarter.
• Institutional investors now own 90.23% of Electronic Arts stock, indicating strong institutional interest in the company.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, reflecting a 0.4% yield based on its annualized dividend.

Morningstar Investment Management LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,075 shares of the game software company's stock, valued at approximately $331,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Moran Wealth Management LLC raised its holdings in Electronic Arts by 2.7% in the second quarter. Moran Wealth Management LLC now owns 5,187 shares of the game software company's stock valued at $828,000 after acquiring an additional 135 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Electronic Arts by 41.6% in the second quarter. Sequoia Financial Advisors LLC now owns 9,986 shares of the game software company's stock valued at $1,595,000 after acquiring an additional 2,933 shares in the last quarter. Vest Financial LLC raised its holdings in Electronic Arts by 5.7% in the second quarter. Vest Financial LLC now owns 278,069 shares of the game software company's stock valued at $44,408,000 after acquiring an additional 15,032 shares in the last quarter. MGO One Seven LLC acquired a new stake in Electronic Arts in the second quarter valued at $317,000. Finally, Alta Advisers Ltd acquired a new stake in Electronic Arts in the second quarter valued at $205,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EA. DZ Bank lowered shares of Electronic Arts from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 29th. Cowen lowered shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price for the company in a research note on Tuesday, August 5th. DA Davidson boosted their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Oppenheimer lowered shares of Electronic Arts from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Electronic Arts presently has an average rating of "Hold" and an average price target of $177.00.

Electronic Arts Stock Down 0.0%

Electronic Arts stock opened at $200.20 on Wednesday. The company has a 50-day simple moving average of $178.74 and a 200-day simple moving average of $159.37. The firm has a market capitalization of $50.09 billion, a P/E ratio of 50.18, a P/E/G ratio of 3.04 and a beta of 0.77. 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 one year low of $115.21 and a one year high of $203.75.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors 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 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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. This represents a 8.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total transaction of $429,225.00. Following the completion of the transaction, the insider owned 55,592 shares of the company's stock, valued at $9,544,590.48. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $7,025,155 over 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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