Optas LLC Acquires New Stake in Electronic Arts Inc. $EA

Key Points

• Optas LLC has acquired a new stake in Electronic Arts Inc., purchasing 2,247 shares valued at approximately $359,000 during the second quarter.
• Recent analyst reports indicate a mix of ratings for Electronic Arts, including a price target increase to $210.00 from $170.00 by Robert W. Baird, while Wall Street Zen downgraded it from "buy" to "hold."
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, with an annualized yield of 0.4%, indicating a commitment to returning value to shareholders.

Optas LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,247 shares of the game software company's stock, valued at approximately $359,000.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the first quarter worth $28,000. Bank of Jackson Hole Trust lifted its position in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Electronic Arts during the first quarter worth $39,000. Costello Asset Management INC purchased a new stake in shares of Electronic Arts during the first quarter worth $40,000. Finally, ORG Partners LLC lifted its position in shares of Electronic Arts by 47.6% during the second quarter. ORG Partners LLC now owns 251 shares of the game software company's stock worth $40,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird restated a "neutral" rating and set a $210.00 target price (up previously from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup reaffirmed a "neutral" rating on shares of Electronic Arts in a report on Friday, September 26th. Wedbush reaffirmed a "neutral" rating and issued a $200.00 price target on shares of Electronic Arts in a report on Monday, September 29th. Finally, Arete Research set a $192.00 price target on shares of Electronic Arts in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $177.00.

Electronic Arts Trading Up 0.0%

Electronic Arts stock opened at $200.05 on Friday. The stock has a market cap of $50.05 billion, a P/E ratio of 50.14, a PEG ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The firm's fifty day moving average price is $176.29 and its 200-day moving average price is $158.13. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $203.40, for a total value of $1,322,100.00. Following the transaction, the chief financial officer owned 5,140 shares of the company's stock, valued at $1,045,476. This represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on 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 directly owned 52,393 shares in the company, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $7,247,635 in the last three months. Insiders own 0.24% of the company's stock.

About Electronic Arts

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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