Electronic Arts Inc. (NASDAQ:EA) Shares Acquired by Walter Public Investments Inc.

Walter Public Investments Inc. increased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 104.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 87,347 shares of the game software company’s stock after acquiring an additional 44,528 shares during the period. Electronic Arts makes up about 2.2% of Walter Public Investments Inc.’s portfolio, making the stock its 21st largest holding. Walter Public Investments Inc.’s holdings in Electronic Arts were worth $12,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in Electronic Arts by 2.9% during the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after acquiring an additional 79 shares during the period. Grove Bank & Trust increased its stake in Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after buying an additional 94 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Electronic Arts by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after acquiring an additional 97 shares during the last quarter. Claro Advisors LLC boosted its stake in shares of Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Electronic Arts by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Stuart Canfield sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the chief financial officer now owns 7,553 shares in the company, valued at $1,095,185. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,070 shares of company stock valued at $3,963,638. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on EA shares. Jefferies Financial Group began coverage on Electronic Arts in a report on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective on the stock. Raymond James boosted their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wedbush raised their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and increased their price target for the company from $148.00 to $161.00 in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $161.28.

Electronic Arts Price Performance

EA opened at $145.83 on Monday. The stock’s 50-day moving average price is $146.26 and its 200 day moving average price is $137.60. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 1.97 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts expect that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.