Patton Fund Management Inc. Takes Position in Electronic Arts Inc. $EA

Key Points

• Patton Fund Management Inc. acquired a new position in Electronic Arts Inc., purchasing 1,502 shares valued at approximately $240,000 during the 2nd quarter.
• Insider trading activity includes EVP Jacob J. Schatz selling 1,500 shares and insider Vijayanthimala Singh selling 1,200 shares, indicating a reduction in their holdings amid a broader trend of insider sales.
• Electronic Arts announced a quarterly dividend of $0.19 per share, contributing to an annualized dividend yield of 0.4% and reflecting a payout ratio of 19.05%.

Patton Fund Management Inc. bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,502 shares of the game software company's stock, valued at approximately $240,000.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the first quarter valued at $28,000. Bank of Jackson Hole Trust grew its stake in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after buying an additional 75 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Electronic Arts during the 1st quarter worth approximately $39,000. American National Bank & Trust acquired a new position in Electronic Arts during the first quarter worth approximately $40,000. Finally, Costello Asset Management INC purchased a new stake in Electronic Arts in the first quarter valued at approximately $40,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the transaction, the executive vice president owned 28,448 shares in the company, valued at $4,219,407.36. This trade represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $171.52, for a total transaction of $205,824.00. Following the completion of the sale, the insider owned 34,731 shares of the company's stock, valued at $5,957,061.12. This trade represents a 3.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,800 shares of company stock worth $5,077,960. 0.24% of the stock is owned by insiders.

Electronic Arts Trading Up 14.9%

Shares of Electronic Arts stock opened at $193.35 on Monday. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 48.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $197.33. The company's 50-day simple moving average is $167.67 and its 200-day simple moving average is $154.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

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

Analyst Upgrades and Downgrades

EA has been the topic of a number of research reports. Citigroup restated a "neutral" rating on shares of Electronic Arts in a research report on Friday. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective on the stock in a research note on Tuesday, August 5th. Bank of America upped their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and upped their price objective for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $167.40.

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.

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