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South Dakota Investment Council Boosts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Electronic Arts logo with Consumer Discretionary background

South Dakota Investment Council raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 218.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,500 shares of the game software company's stock after acquiring an additional 2,400 shares during the quarter. South Dakota Investment Council's holdings in Electronic Arts were worth $506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EA. Financial Management Professionals Inc. increased its position in Electronic Arts by 15.0% in the first quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares during the period. Whipplewood Advisors LLC increased its position in Electronic Arts by 34.2% in the first quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after purchasing an additional 76 shares during the period. Clarius Group LLC increased its position in Electronic Arts by 3.6% in the first quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after purchasing an additional 77 shares during the period. Intrust Bank NA increased its position in Electronic Arts by 3.3% in the fourth quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock worth $362,000 after purchasing an additional 78 shares during the period. Finally, Conning Inc. boosted its holdings in Electronic Arts by 4.7% during the first quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after buying an additional 78 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Electronic Arts Trading Down 0.3%

Shares of NASDAQ:EA traded down $0.48 during trading hours on Friday, hitting $152.16. 221,860 shares of the company's stock traded hands, compared to its average volume of 3,492,934. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The business has a fifty day moving average price of $151.03 and a 200-day moving average price of $142.83. The firm has a market capitalization of $38.23 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's dividend payout ratio is presently 17.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group raised their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Morgan Stanley lifted their price objective on Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, TD Cowen lifted their price objective on Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.71.

Get Our Latest Analysis on EA

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the transaction, the insider directly owned 60,592 shares of the company's stock, valued at approximately $9,664,424. This trade represents a 3.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total transaction of $151,320.00. Following the sale, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This represents a 6.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,729 shares of company stock valued at $4,822,884. Insiders own 0.24% of the company's stock.

Electronic Arts Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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