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Private Advisor Group LLC Increases Stake in Electronic Arts Inc. (NASDAQ:EA)

Defense World · Sep 30, 2022 04:53

Private Advisor Group LLC raised its holdings in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 29.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,957 shares of the game software company's stock after buying an additional 2,946 shares during the quarter. Private Advisor Group LLC's holdings in Electronic Arts were worth $1,576,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EA. Bradley Foster & Sargent Inc. CT boosted its holdings in Electronic Arts by 2.1% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,096 shares of the game software company's stock worth $540,000 after acquiring an additional 85 shares in the last quarter. Family Legacy Inc. boosted its holdings in Electronic Arts by 2.8% in the first quarter. Family Legacy Inc. now owns 3,171 shares of the game software company's stock worth $401,000 after acquiring an additional 85 shares in the last quarter. Newfound Research LLC boosted its holdings in Electronic Arts by 8.6% in the first quarter. Newfound Research LLC now owns 1,160 shares of the game software company's stock worth $147,000 after acquiring an additional 92 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in Electronic Arts by 6.1% in the first quarter. Jacobi Capital Management LLC now owns 1,713 shares of the game software company's stock worth $217,000 after acquiring an additional 98 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in Electronic Arts by 15.8% in the first quarter. ICICI Prudential Asset Management Co Ltd now owns 808 shares of the game software company's stock worth $103,000 after acquiring an additional 110 shares in the last quarter. 90.65% of the stock is currently owned by institutional investors.

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Electronic Arts Trading Down 0.7 %

Shares of EA opened at $117.47 on Friday. The company's fifty day moving average is $127.22 and its 200 day moving average is $127.00. Electronic Arts Inc. has a fifty-two week low of $109.24 and a fifty-two week high of $146.72. The stock has a market capitalization of $32.66 billion, a PE ratio of 37.17, a P/E/G ratio of 2.33 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.24.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, August 30th. Electronic Arts's dividend payout ratio is presently 24.05%.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 10,000 shares of the business's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $131.50, for a total value of $1,315,000.00. Following the sale, the chief executive officer now owns 31,742 shares in the company, valued at $4,174,073. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Electronic Arts news, CEO Andrew Wilson sold 10,000 shares of the business's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $131.50, for a total transaction of $1,315,000.00. Following the transaction, the chief executive officer now owns 31,742 shares in the company, valued at $4,174,073. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laura Miele sold 1,500 shares of the business's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $130.77, for a total transaction of $196,155.00. Following the transaction, the chief operating officer now owns 33,700 shares in the company, valued at approximately $4,406,949. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,144 shares of company stock worth $9,475,931. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on EA. Ascendiant Capital Markets set a $160.00 target price on Electronic Arts in a report on Monday, June 20th. Truist Financial reduced their price objective on Electronic Arts to $154.00 and set a "buy" rating for the company in a research report on Sunday, July 31st. Credit Suisse Group reduced their price objective on Electronic Arts from $159.00 to $154.00 and set an "outperform" rating for the company in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Electronic Arts from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, August 9th. Finally, Barclays upped their price objective on Electronic Arts from $114.00 to $125.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 19th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $150.64.

Electronic Arts Profile

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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.