Tobam Grows Stock Position in Electronic Arts Inc. $EA

Tobam lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 50.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,270 shares of the game software company’s stock after acquiring an additional 12,497 shares during the period. Electronic Arts makes up about 2.3% of Tobam’s investment portfolio, making the stock its 8th largest holding. Tobam’s holdings in Electronic Arts were worth $5,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Salomon & Ludwin LLC lifted its position in shares of Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after purchasing an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Electronic Arts by 3.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company’s stock worth $323,000 after acquiring an additional 72 shares during the last quarter. Bank of Jackson Hole Trust raised its position in shares of Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Financial Management Professionals Inc. lifted its position in Electronic Arts by 13.6% during the second quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company’s stock worth $102,000 after acquiring an additional 76 shares during the last quarter. Finally, STF Management LP lifted its holdings in Electronic Arts by 2.0% during the 2nd quarter. STF Management LP now owns 3,944 shares of the game software company’s stock worth $630,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EA shares. Baird R W lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Argus set a $210.00 price target on Electronic Arts in a research note on Thursday, October 30th. TD Cowen downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the company an “equal weight” rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $181.64.

Electronic Arts Stock Performance

Shares of EA stock opened at $201.93 on Wednesday. The firm has a 50 day moving average of $190.22 and a 200-day moving average of $167.90. The company has a market cap of $50.36 billion, a price-to-earnings ratio of 59.04, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $203.75.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was down 12.6% compared to the same quarter last year. On average, equities analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is currently 22.22%.

Insider Buying and Selling

In related news, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the sale, the chief financial officer owned 5,140 shares of the company’s stock, valued at approximately $1,045,476. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total transaction of $429,225.00. Following the sale, the insider owned 55,592 shares of the company’s stock, valued at $9,544,590.48. This trade represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,400 shares of company stock worth $7,359,462 over the last quarter. Corporate insiders own 0.24% 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.