Log Out

ACG Wealth Invests $42,000 in Electronic Arts Inc. (NASDAQ:EA)

Defense World · Sep 25, 2022 05:51

ACG Wealth acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 349 shares of the game software company's stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EA. Tortoise Investment Management LLC lifted its position in Electronic Arts by 294.1% in the first quarter. Tortoise Investment Management LLC now owns 201 shares of the game software company's stock worth $25,000 after purchasing an additional 150 shares during the period. Tyler Stone Wealth Management acquired a new stake in Electronic Arts in the fourth quarter worth approximately $33,000. Geneos Wealth Management Inc. increased its holdings in shares of Electronic Arts by 128.9% in the first quarter. Geneos Wealth Management Inc. now owns 293 shares of the game software company's stock valued at $37,000 after buying an additional 165 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of Electronic Arts by 164.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 294 shares of the game software company's stock valued at $37,000 after buying an additional 183 shares in the last quarter. Finally, Herold Advisors Inc. bought a new position in shares of Electronic Arts in the first quarter valued at $38,000. 90.65% of the stock is currently owned by institutional investors and hedge funds.

Get Electronic Arts alerts:

Analyst Upgrades and Downgrades

Several research firms have issued reports on EA. Ascendiant Capital Markets set a $160.00 price target on Electronic Arts in a report on Monday, June 20th. Wells Fargo & Company upped their price target on Electronic Arts from $145.00 to $155.00 and gave the company a "maintains" rating in a report on Thursday, August 4th. MKM Partners cut Electronic Arts from a "buy" rating to a "neutral" rating and set a $131.00 price target on the stock. in a report on Wednesday, September 7th. Stifel Nicolaus dropped their price target on Electronic Arts from $155.00 to $153.00 and set a "buy" rating on the stock in a report on Monday, July 25th. Finally, Truist Financial cut their target price on shares of Electronic Arts to $154.00 and set a "buy" rating on the stock in a research note on Sunday, July 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of "Moderate Buy" and an average target price of $150.64.

Electronic Arts Trading Down 1.5 %

Shares of NASDAQ:EA opened at $115.64 on Friday. The stock has a market capitalization of $32.15 billion, a PE ratio of 36.59, a P/E/G ratio of 2.37 and a beta of 0.84. Electronic Arts Inc. has a 1 year low of $109.24 and a 1 year high of $146.72. The firm has a fifty day moving average price of $128.06 and a 200 day moving average price of $127.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, August 30th. Electronic Arts's dividend payout ratio (DPR) is 24.05%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company's stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $120.90, for a total transaction of $96,720.00. Following the completion of the sale, the insider now directly owns 28,514 shares in the company, valued at $3,447,342.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Andrew Wilson sold 7,373 shares of the company's stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $130.05, for a total transaction of $958,858.65. Following the completion of the transaction, the chief executive officer now owns 29,242 shares of the company's stock, valued at $3,802,922.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 800 shares of the company's stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $120.90, for a total transaction of $96,720.00. Following the transaction, the insider now directly owns 28,514 shares of the company's stock, valued at approximately $3,447,342.60. The disclosure for this sale can be found here. Insiders sold 92,901 shares of company stock worth $12,015,172 over the last ninety days. Company insiders own 0.37% of the company's stock.

About Electronic Arts

(Get Rating)

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.