Electronic Arts (NASDAQ:EA) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Electronic Arts (NASDAQ:EA) from a buy rating to a strong-buy rating in a report published on Thursday.

EA has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Bank of America increased their price target on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen increased their price target on Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average target price of $164.39.

Electronic Arts Stock Up 0.3 %

Shares of NASDAQ:EA opened at $151.26 on Thursday. The firm has a market cap of $39.96 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.05 and a beta of 0.78. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts has a 12-month low of $124.92 and a 12-month high of $153.51. The business has a fifty day simple moving average of $144.96 and a 200 day simple moving average of $140.29.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts’s dividend payout ratio is currently 19.54%.

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the transaction, the insider now owns 30,190 shares of the company’s stock, valued at $4,579,823. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares in the company, valued at $4,579,823. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,644 shares of company stock valued at $3,491,207 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Electronic Arts

Hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its holdings in Electronic Arts by 2.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after acquiring an additional 79 shares during the period. Shepherd Financial Partners LLC raised its holdings in Electronic Arts by 1.6% during the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock valued at $816,000 after acquiring an additional 88 shares during the period. Grove Bank & Trust raised its holdings in Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after acquiring an additional 94 shares during the period. CWM LLC raised its holdings in Electronic Arts by 1.5% during the 3rd quarter. CWM LLC now owns 6,302 shares of the game software company’s stock valued at $904,000 after acquiring an additional 95 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Electronic Arts by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

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.