Resona Asset Management Co. Ltd. Buys 5,275 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Electronic Arts Inc. by 5.2%, acquiring an additional 5,275 shares during the first quarter, bringing its total to 105,892 shares valued at approximately $15.3 million.
• Electronic Arts plans to pay a quarterly dividend of $0.19 per share on September 17, resulting in an annualized yield of 0.4%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Electronic Arts, with an average price target of $167.12, following multiple upgrades from various investment firms.

Resona Asset Management Co. Ltd. grew its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,892 shares of the game software company's stock after acquiring an additional 5,275 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Electronic Arts were worth $15,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EA. Nomura Holdings Inc. raised its stake in Electronic Arts by 11.7% in the 4th quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock worth $4,566,000 after purchasing an additional 3,259 shares in the last quarter. CCM Investment Group LLC acquired a new position in shares of Electronic Arts in the 1st quarter valued at approximately $1,625,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after buying an additional 13,461 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Electronic Arts by 11,587.9% in the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after buying an additional 663,640 shares in the last quarter. Finally, Arlington Partners LLC raised its position in shares of Electronic Arts by 23.3% in the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock valued at $4,991,000 after buying an additional 6,532 shares in the last quarter. Institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Down 2.4%

NASDAQ EA traded down $4.34 on Friday, hitting $174.67. 3,428,521 shares of the company were exchanged, compared to its average volume of 3,477,202. The company has a market cap of $43.70 billion, a PE ratio of 43.78, a PEG ratio of 2.25 and a beta of 0.72. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $180.90. The stock has a fifty day moving average of $156.13 and a 200-day moving average of $146.04. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

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

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the transaction, the insider directly owned 37,131 shares in the company, valued at approximately $5,923,508.43. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the completion of the transaction, the executive vice president owned 29,948 shares of the company's stock, valued at $4,452,968.12. This trade represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,229 shares of company stock valued at $4,452,664 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EA. Moffett Nathanson reaffirmed a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, May 7th. Benchmark upped their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. UBS Group set a $167.00 price objective on shares of Electronic Arts and gave the stock a "neutral" rating in a research report on Friday, August 1st. Bank of America upped their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Sixteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

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.