Electronic Arts Inc. (NASDAQ:EA) Stake Boosted by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 30.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,691 shares of the game software company’s stock after purchasing an additional 622 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Electronic Arts were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EA. North Star Investment Management Corp. increased its holdings in shares of Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after purchasing an additional 150 shares during the period. Cape Investment Advisory Inc. grew its holdings in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Electronic Arts during the first quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts during the second quarter worth about $28,000. Finally, Larson Financial Group LLC acquired a new position in Electronic Arts during the fourth quarter worth about $30,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Up 0.4 %

Shares of Electronic Arts stock traded up $0.55 on Wednesday, hitting $149.60. The company had a trading volume of 265,712 shares, compared to its average volume of 2,136,082. The firm has a market capitalization of $39.75 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.37. The stock has a 50-day moving average of $143.06 and a 200-day moving average of $136.71.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total value of $106,304.00. Following the sale, the insider now owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total transaction of $106,304.00. Following the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,260 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the transaction, the chief financial officer now directly owns 7,553 shares in the company, valued at $1,120,638.61. The disclosure for this sale can be found here. Insiders have sold a total of 17,986 shares of company stock valued at $2,545,726 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EA has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Bank of America lifted their price target on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.28.

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.