CIBC Asset Management Inc Buys 22,129 Shares of Electronic Arts Inc. $EA

CIBC Asset Management Inc raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,112 shares of the game software company’s stock after buying an additional 22,129 shares during the period. CIBC Asset Management Inc’s holdings in Electronic Arts were worth $20,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in EA. Pentwater Capital Management LP purchased a new position in Electronic Arts in the third quarter valued at about $968,160,000. Norges Bank bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $643,674,000. Ameriprise Financial Inc. grew its position in shares of Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after buying an additional 1,300,336 shares during the last quarter. Man Group plc raised its stake in shares of Electronic Arts by 165.5% during the 2nd quarter. Man Group plc now owns 1,279,249 shares of the game software company’s stock worth $204,296,000 after acquiring an additional 797,461 shares in the last quarter. Finally, Quinn Opportunity Partners LLC bought a new position in shares of Electronic Arts during the 3rd quarter worth approximately $156,760,000. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EA. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup upped their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $196.64.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares in the company, valued at approximately $5,233,547.76. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. The trade was a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 39,906 shares of company stock worth $8,032,336. Insiders own 0.24% of the company’s stock.

Electronic Arts Trading Up 0.4%

Shares of Electronic Arts stock opened at $203.40 on Friday. The firm’s 50 day simple moving average is $202.20 and its two-hundred day simple moving average is $202.29. The firm has a market capitalization of $51.00 billion, a price-to-earnings ratio of 58.28, a PEG ratio of 2.23 and a beta of 0.65. Electronic Arts Inc. has a 12-month low of $145.54 and a 12-month high of $204.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th 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 of this dividend is Wednesday, May 27th. Electronic Arts’s dividend payout ratio is presently 21.78%.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.