Harvest Fund Management Co. Ltd Buys 4,110 Shares of Electronic Arts Inc. (NASDAQ:EA)

Harvest Fund Management Co. Ltd grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 51.0% during the third quarter, HoldingsChannel reports. The fund owned 12,170 shares of the game software company’s stock after acquiring an additional 4,110 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Electronic Arts were worth $1,746,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Electronic Arts during the third quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the second quarter valued at about $28,000. Family Firm Inc. bought a new stake in shares of Electronic Arts in the 2nd quarter valued at about $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts in the 3rd quarter worth approximately $36,000. Finally, Gradient Investments LLC raised its stake in shares of Electronic Arts by 592.1% during the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after acquiring an additional 225 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Mkm lifted their price target on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Bank of America increased their price target on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at $4,675,692.90. This trade represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at $3,863,848.80. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,884 shares of company stock worth $4,404,435 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $164.14 on Tuesday. The company has a market capitalization of $43.05 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The company’s fifty day moving average price is $149.71 and its 200 day moving average price is $144.23. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.

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.