Norges Bank Makes New Investment in Electronic Arts Inc. $EA

Norges Bank bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,150,170 shares of the game software company’s stock, valued at approximately $643,674,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in Electronic Arts by 2.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,108 shares of the game software company’s stock worth $425,000 after purchasing an additional 50 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Electronic Arts by 32.8% during the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after acquiring an additional 57 shares during the period. Physician Wealth Advisors Inc. raised its holdings in shares of Electronic Arts by 5.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,053 shares of the game software company’s stock worth $212,000 after acquiring an additional 59 shares during the period. Macroview Investment Management LLC raised its holdings in shares of Electronic Arts by 6.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after acquiring an additional 62 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Electronic Arts by 3.6% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,941 shares of the game software company’s stock worth $392,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EA shares. Citigroup lifted their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $196.64.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.66, for a total value of $1,021,609.56. Following the sale, the chief executive officer directly owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer owned 25,991 shares in the company, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 39,906 shares of company stock worth $8,032,336 in the last 90 days. Insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $201.72 on Monday. Electronic Arts Inc. has a 52 week low of $141.19 and a 52 week high of $204.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $202.07 and its 200-day simple moving average is $202.26. The firm has a market cap of $50.58 billion, a PE ratio of 57.80, a P/E/G ratio of 2.22 and a beta of 0.65.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s payout ratio is 21.78%.

Electronic Arts 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.