Concurrent Investment Advisors LLC Boosts Holdings in Electronic Arts Inc. $EA

Concurrent Investment Advisors LLC raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,455 shares of the game software company’s stock after buying an additional 178 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Electronic Arts were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of EA. Bank of Jackson Hole Trust grew its stake in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Electronic Arts by 47.6% during the 2nd quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Electronic Arts during the 1st quarter valued at about $39,000. Costello Asset Management INC purchased a new position in shares of Electronic Arts during the first quarter valued at about $40,000. Finally, WPG Advisers LLC bought a new stake in shares of Electronic Arts in the first quarter worth about $41,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. UBS Group set a $210.00 target price on Electronic Arts and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an “equal weight” rating in a report on Monday, July 28th. Jefferies Financial Group downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating and upped their price target for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. Finally, Bank of America lifted their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.00.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $171.69, for a total transaction of $429,225.00. Following the completion of the transaction, the insider owned 55,592 shares in the company, valued at $9,544,590.48. The trade was a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stuart Canfield sold 6,500 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the transaction, the chief financial officer directly owned 5,140 shares in the company, valued at $1,045,476. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,900 shares of company stock valued at $7,506,487. 0.24% of the stock is owned by company insiders.

Electronic Arts Trading Down 0.0%

Shares of EA opened at $200.30 on Friday. The company’s fifty day simple moving average is $180.90 and its 200-day simple moving average is $160.53. The company has a market cap of $50.12 billion, a P/E ratio of 50.20, a P/E/G ratio of 3.04 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is presently 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.