Waterfront Wealth Inc. Increases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Waterfront Wealth Inc. increased its position in Electronic Arts Inc. (NASDAQ:EA) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,139 shares of the game software company’s stock after buying an additional 164 shares during the quarter. Waterfront Wealth Inc.’s holdings in Electronic Arts were worth $995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EA. International Assets Investment Management LLC purchased a new position in shares of Electronic Arts in the fourth quarter valued at $23,580,000. Truist Financial Corp boosted its stake in Electronic Arts by 1.2% during the 4th quarter. Truist Financial Corp now owns 29,286 shares of the game software company’s stock valued at $4,007,000 after acquiring an additional 359 shares during the last quarter. Savant Capital LLC bought a new position in Electronic Arts during the 4th quarter valued at $302,000. Victory Capital Management Inc. boosted its stake in Electronic Arts by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 252,071 shares of the game software company’s stock valued at $34,486,000 after acquiring an additional 13,544 shares during the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in Electronic Arts during the 4th quarter valued at $222,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total transaction of $350,650.00. Following the transaction, the chief executive officer now owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,870 shares of company stock valued at $3,918,242. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock traded up $1.57 during trading hours on Friday, reaching $151.82. The stock had a trading volume of 2,315,554 shares, compared to its average volume of 1,638,803. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The firm has a 50-day simple moving average of $144.97 and a 200-day simple moving average of $137.37. The firm has a market capitalization of $40.11 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a yield of 0.50%. Electronic Arts’s payout ratio is 16.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on EA shares. Robert W. Baird increased their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets reissued an “outperform” rating and set a $154.00 target price on shares of Electronic Arts in a report on Tuesday, July 30th. Stifel Nicolaus increased their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush increased their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.28.

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.