DAVENPORT & Co LLC Boosts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

DAVENPORT & Co LLC raised its position in shares of Electronic Arts Inc. (NASDAQ:EAFree Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 636,937 shares of the game software company’s stock after purchasing an additional 6,557 shares during the quarter. DAVENPORT & Co LLC owned 0.24% of Electronic Arts worth $87,095,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Electronic Arts by 16.3% in the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock worth $3,086,621,000 after buying an additional 3,600,388 shares during the last quarter. Norges Bank acquired a new position in Electronic Arts in the 4th quarter worth about $270,382,000. Morgan Stanley raised its holdings in Electronic Arts by 62.1% in the 4th quarter. Morgan Stanley now owns 3,193,059 shares of the game software company’s stock worth $390,128,000 after purchasing an additional 1,223,195 shares during the period. Barclays PLC raised its holdings in Electronic Arts by 265.0% in the 2nd quarter. Barclays PLC now owns 1,516,792 shares of the game software company’s stock worth $196,727,000 after purchasing an additional 1,101,229 shares during the period. Finally, DNB Asset Management AS raised its holdings in Electronic Arts by 82.3% in the 4th quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock worth $322,494,000 after purchasing an additional 1,064,022 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $137.43, for a total value of $109,944.00. Following the sale, the insider now owns 28,683 shares of the company’s stock, valued at approximately $3,941,904.69. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Jeff Huber sold 11,872 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $141.90, for a total value of $1,684,636.80. Following the sale, the director now owns 79,381 shares of the company’s stock, valued at approximately $11,264,163.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total value of $109,944.00. Following the completion of the sale, the insider now directly owns 28,683 shares in the company, valued at approximately $3,941,904.69. The disclosure for this sale can be found here. Insiders have sold a total of 37,144 shares of company stock worth $5,153,300 in the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the subject of several recent research reports. Wolfe Research initiated coverage on Electronic Arts in a report on Tuesday, December 12th. They issued a “peer perform” rating for the company. BMO Capital Markets initiated coverage on Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price objective for the company. UBS Group lowered their price objective on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus raised their price target on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Check Out Our Latest Report on Electronic Arts

Electronic Arts Stock Performance

NASDAQ EA traded down $1.19 on Tuesday, hitting $132.15. 2,032,600 shares of the company’s stock were exchanged, compared to its average volume of 2,069,757. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50-day moving average price is $137.12 and its two-hundred day moving average price is $133.68. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $144.53. The firm has a market cap of $35.33 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.96 and a beta of 0.76.

Electronic Arts (NASDAQ:EAGet Free Report) last released its earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.40 billion. Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, research analysts expect that Electronic Arts Inc. will post 5.36 EPS for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, February 27th. Electronic Arts’s dividend payout ratio is currently 19.14%.

Electronic Arts Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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