Sumitomo Mitsui Trust Group Inc. Acquires 13,461 Shares of Electronic Arts Inc. (NASDAQ:EA)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,581 shares of the game software company's stock after purchasing an additional 13,461 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Electronic Arts worth $94,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Management Professionals Inc. boosted its position in shares of Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock valued at $81,000 after purchasing an additional 73 shares in the last quarter. Whipplewood Advisors LLC raised its stake in Electronic Arts by 34.2% during the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after buying an additional 76 shares during the period. Clarius Group LLC raised its stake in Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after buying an additional 77 shares during the period. Intrust Bank NA raised its stake in Electronic Arts by 3.3% during the 4th quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock worth $362,000 after buying an additional 78 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Electronic Arts by 11.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company's stock worth $119,000 after buying an additional 81 shares during the period. Institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. TD Cowen upped their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Benchmark upped their price target on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wedbush upped their price target on Electronic Arts from $179.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Monday, June 16th. The stock was sold at an average price of $148.69, for a total value of $223,035.00. Following the completion of the transaction, the executive vice president now directly owns 29,948 shares in the company, valued at approximately $4,452,968.12. The trade was a 4.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Friday, June 20th. The shares were sold at an average price of $150.64, for a total value of $753,200.00. Following the completion of the transaction, the chief executive officer now owns 62,393 shares of the company's stock, valued at approximately $9,398,881.52. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,229 shares of company stock valued at $4,371,399 over the last ninety days. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $157.74 on Monday. The business's fifty day simple moving average is $149.40 and its 200 day simple moving average is $142.20. The firm has a market capitalization of $39.64 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.48%. Electronic Arts's dividend payout ratio (DPR) is currently 17.92%.

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.

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