Tobam Boosts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Tobam raised its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 6,171.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,773 shares of the game software company's stock after acquiring an additional 24,378 shares during the period. Electronic Arts makes up 1.5% of Tobam's portfolio, making the stock its 20th largest holding. Tobam's holdings in Electronic Arts were worth $3,580,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after purchasing an additional 294 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Electronic Arts by 43.6% in the 4th quarter. Apollon Wealth Management LLC now owns 5,055 shares of the game software company's stock worth $740,000 after buying an additional 1,536 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Electronic Arts by 32.4% in the 4th quarter. Empowered Funds LLC now owns 7,230 shares of the game software company's stock worth $1,058,000 after buying an additional 1,771 shares during the last quarter. Stephens Inc. AR raised its position in shares of Electronic Arts by 12.3% during the 4th quarter. Stephens Inc. AR now owns 5,337 shares of the game software company's stock valued at $781,000 after buying an additional 585 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Electronic Arts by 84.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 5,805 shares of the game software company's stock valued at $849,000 after acquiring an additional 2,661 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Down 1.0%

NASDAQ EA traded down $1.57 on Friday, hitting $148.48. The stock had a trading volume of 1,703,905 shares, compared to its average volume of 2,755,662. The business's fifty day moving average price is $146.88 and its 200 day moving average price is $143.29. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50.

Electronic Arts Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. Electronic Arts's payout ratio is currently 17.92%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 6,563 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total value of $992,194.34. Following the completion of the transaction, the chief executive officer now directly owns 70,059 shares of the company's stock, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the completion of the sale, the insider now owns 26,216 shares in the company, valued at approximately $3,801,320. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,729 shares of company stock valued at $4,107,664 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EA shares. Ascendiant Capital Markets upped their price objective on Electronic Arts from $157.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Benchmark upped their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Roth Capital reissued a "neutral" rating on shares of Electronic Arts in a research note on Wednesday, May 7th. Finally, Argus set a $170.00 target price on Electronic Arts in a research note on Friday, May 16th. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Electronic Arts 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.