Oak Harvest Investment Services Buys Shares of 22,610 Electronic Arts Inc. $EA

Oak Harvest Investment Services acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,610 shares of the game software company’s stock, valued at approximately $3,611,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock valued at $4,198,607,000 after acquiring an additional 150,438 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after purchasing an additional 193,442 shares during the period. Independent Franchise Partners LLP lifted its holdings in Electronic Arts by 2.3% in the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock worth $570,233,000 after purchasing an additional 88,767 shares during the period. Invesco Ltd. grew its position in Electronic Arts by 15.6% in the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company’s stock valued at $539,563,000 after buying an additional 504,760 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Electronic Arts by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock valued at $470,197,000 after buying an additional 1,254,194 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. TD Cowen downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. UBS Group set a $210.00 price target on Electronic Arts and gave the company a “neutral” rating in a research note on Tuesday, September 30th. HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a research note on Monday, September 29th. Finally, Citigroup raised their target price on Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $181.64.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total transaction of $205,824.00. Following the transaction, the executive vice president directly owned 26,080 shares in the company, valued at approximately $4,473,241.60. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total value of $429,225.00. Following the completion of the sale, the insider owned 55,592 shares of the company’s stock, valued at $9,544,590.48. The trade was a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 38,200 shares of company stock worth $7,149,882. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $201.34 on Friday. The stock’s fifty day simple moving average is $191.57 and its 200 day simple moving average is $168.36. The stock has a market capitalization of $50.22 billion, a price-to-earnings ratio of 58.87, a PEG ratio of 3.04 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $203.75.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 earnings per share. As a group, sell-side analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

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

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.