Weinberger Asset Management Inc Purchases New Shares in Electronic Arts Inc. $EA

Key Points

• Weinberger Asset Management Inc. purchased 2,873 shares of Electronic Arts Inc. in the second quarter, valued at approximately $459,000.
• Several institutional investors have significantly increased their stakes in Electronic Arts, with Ameriprise Financial boosting its position by 197.5% in the first quarter alone.
• Electronic Arts has a current average rating of "Moderate Buy" from analysts, with a consensus price target of $167.40.

Weinberger Asset Management Inc purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,873 shares of the game software company's stock, valued at approximately $459,000.

A number of other large investors have also made changes to their positions in EA. Ameriprise Financial Inc. grew its stake in shares of Electronic Arts by 197.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after purchasing an additional 1,936,313 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $225,102,000. Nuveen LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $203,537,000. Goldman Sachs Group Inc. grew its stake in shares of Electronic Arts by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after purchasing an additional 1,254,194 shares during the period. Finally, ING Groep NV grew its stake in shares of Electronic Arts by 3,477.8% during the 1st quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock valued at $168,185,000 after purchasing an additional 1,131,220 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares in the company, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the transaction, the insider owned 34,731 shares of the company's stock, valued at $5,957,061.12. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,800 shares of company stock valued at $4,214,010 over the last quarter. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $210.00 target price on shares of Electronic Arts in a report on Monday, August 25th. DA Davidson increased their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Bank of America increased their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $167.40.

Electronic Arts Price Performance

Shares of NASDAQ EA traded down $0.08 during midday trading on Friday, reaching $173.09. 8,435,199 shares of the stock traded hands, compared to its average volume of 2,211,893. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $43.31 billion, a PE ratio of 43.38, a P/E/G ratio of 2.63 and a beta of 0.75. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The company's 50 day moving average is $165.08 and its 200 day moving average is $153.14.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

About Electronic Arts

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.