Fiduciary Trust Co Acquires Shares of 1,820 Electronic Arts Inc. (NASDAQ:EA)

Fiduciary Trust Co bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,820 shares of the game software company’s stock, valued at approximately $261,000.

A number of other hedge funds also recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new position in Electronic Arts during the second quarter valued at approximately $188,159,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Electronic Arts by 43.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after buying an additional 420,382 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Electronic Arts by 214.8% during the 2nd quarter. National Bank of Canada FI now owns 533,548 shares of the game software company’s stock worth $73,264,000 after buying an additional 364,044 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Electronic Arts by 29.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock worth $215,725,000 after buying an additional 354,005 shares during the last quarter. Finally, abrdn plc boosted its stake in Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after buying an additional 319,335 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EA. JPMorgan Chase & Co. dropped their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, Argus boosted their price objective on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Trading Up 0.3 %

EA opened at $163.67 on Friday. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $168.50. The company has a fifty day moving average of $151.54 and a 200-day moving average of $145.01. The stock has a market cap of $42.93 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. Electronic Arts’s payout ratio is currently 19.54%.

Insider Transactions at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction 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 in the company, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares of the company’s stock, valued at $3,863,848.80. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock valued at $3,073,520. Corporate insiders own 0.22% of the company’s stock.

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.