Electronic Arts Inc. $EA Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,801 shares of the game software company’s stock after purchasing an additional 1,203 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Electronic Arts were worth $4,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after acquiring an additional 294 shares during the period. Concurrent Investment Advisors LLC increased its stake in Electronic Arts by 33.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,277 shares of the game software company’s stock worth $329,000 after buying an additional 576 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in Electronic Arts by 7.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 1,781 shares of the game software company’s stock worth $257,000 after buying an additional 131 shares in the last quarter. Allworth Financial LP boosted its position in Electronic Arts by 53.4% in the 1st quarter. Allworth Financial LP now owns 1,169 shares of the game software company’s stock valued at $171,000 after buying an additional 407 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Electronic Arts by 28.4% during the first quarter. Cerity Partners LLC now owns 37,816 shares of the game software company’s stock valued at $5,465,000 after acquiring an additional 8,356 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $200.60 on Friday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. The business has a 50 day simple moving average of $189.02 and a 200 day simple moving average of $166.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.07). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The firm’s revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. On average, equities research analysts anticipate that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several research firms recently commented on EA. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Roth Capital lowered Electronic Arts from a “buy” rating to a “neutral” rating and upped their target price for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. DZ Bank cut Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Wells Fargo & Company set a $168.00 price target on shares of Electronic Arts and gave the stock an “equal weight” rating in a research note on Monday, July 28th. Finally, Wall Street Zen downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus price target of $181.64.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction that occurred 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 transaction, the chief financial officer owned 5,140 shares in the company, valued at approximately $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $200.55, for a total value of $1,002,750.00. Following the sale, the chief executive officer owned 42,393 shares of the company’s stock, valued at $8,501,916.15. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,400 shares of company stock valued at $7,359,462 in the last ninety days. 0.24% of the stock is owned by company insiders.

Electronic Arts Company 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.