Rhumbline Advisers Boosts Position in Electronic Arts Inc. (NASDAQ:EA)

Rhumbline Advisers lifted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 541,617 shares of the game software company's stock after purchasing an additional 12,265 shares during the quarter. Rhumbline Advisers owned about 0.22% of Electronic Arts worth $78,274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in shares of Electronic Arts during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Electronic Arts in the 4th quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter valued at approximately $33,000. Millstone Evans Group LLC acquired a new position in Electronic Arts during the fourth quarter worth $37,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Electronic Arts during the fourth quarter worth $41,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total transaction of $712,500.00. Following the transaction, the chief executive officer now directly owns 32,615 shares of the company's stock, valued at $4,647,637.50. This represents a 13.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 26,216 shares of the company's stock, valued at $3,801,320. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock worth $4,107,664 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

EA stock traded down $0.58 during trading on Thursday, hitting $147.88. The company had a trading volume of 2,609,092 shares, compared to its average volume of 3,794,000. The firm has a 50-day moving average price of $145.77 and a 200-day moving average price of $144.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The firm has a market cap of $37.08 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EA. UBS Group raised their target price on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. Bank of America increased their target price on shares of Electronic Arts from $130.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Robert W. Baird set a $168.00 price objective on Electronic Arts in a research note on Wednesday, May 7th. Finally, Roth Capital reiterated a "neutral" rating on shares of Electronic Arts in a report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.88.

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.