Texas Capital Bank Wealth Management Services Inc Invests $341,000 in Electronic Arts Inc. $EA

Key Points

• Texas Capital Bank Wealth Management Services Inc. has acquired 2,361 shares of Electronic Arts Inc., valued at approximately $341,000, during the first quarter.
• Goldman Sachs Group raised its price target on Electronic Arts from $135.00 to $155.00 while maintaining a "neutral" rating, indicating positive market sentiment for the stock.
• The company also declared a quarterly dividend of $0.19 per share, amounting to $0.76 annually, with a dividend yield of 0.4% set to be paid on September 17th.

Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,361 shares of the game software company's stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EA. Financial Management Professionals Inc. grew its holdings in shares of Electronic Arts by 15.0% in the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after acquiring an additional 73 shares during the period. Bank of Jackson Hole Trust raised its holdings in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in Electronic Arts by 34.2% during 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 last quarter. Clarius Group LLC boosted its position in Electronic Arts by 3.6% during 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 in the last quarter. Finally, Conning Inc. grew its holdings in Electronic Arts by 4.7% in the first quarter. Conning Inc. now owns 1,749 shares of the game software company's stock valued at $253,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

EA has been the subject of several research reports. Robert W. Baird lifted their price target on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. DA Davidson raised their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Finally, Oppenheimer raised their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Trading Down 0.1%

Shares of NASDAQ:EA traded down $0.15 during midday trading on Friday, reaching $171.40. The company's stock had a trading volume of 1,707,305 shares, compared to its average volume of 3,402,479. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72. The business has a 50 day moving average price of $158.41 and a 200 day moving average price of $147.58. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $180.90. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio is currently 19.05%.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the sale, the chief financial officer directly owned 15,140 shares in the company, valued at approximately $2,589,848.40. The trade was a 6.20% decrease in their ownership of the stock. The transaction 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 the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total transaction of $855,250.00. Following the transaction, the chief executive officer directly owned 52,393 shares of the company's stock, valued at $8,961,822.65. This trade represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,200 shares of company stock worth $4,142,660. Corporate insiders own 0.24% of the company's stock.

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.