Lake Street Advisors Group LLC Acquires New Shares in Electronic Arts Inc. (NASDAQ:EA)

Lake Street Advisors Group LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,971 shares of the game software company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EA. HB Wealth Management LLC grew its stake in Electronic Arts by 34.4% in the fourth quarter. HB Wealth Management LLC now owns 2,626 shares of the game software company’s stock valued at $359,000 after purchasing an additional 672 shares in the last quarter. Raymond James & Associates increased its stake in shares of Electronic Arts by 24.1% during the 4th quarter. Raymond James & Associates now owns 77,201 shares of the game software company’s stock worth $10,562,000 after purchasing an additional 14,969 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $38,000. Raymond James Financial Services Advisors Inc. lifted its stake in Electronic Arts by 15.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 32,332 shares of the game software company’s stock valued at $4,423,000 after purchasing an additional 4,344 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Electronic Arts by 20.2% during the fourth quarter. Pacer Advisors Inc. now owns 36,233 shares of the game software company’s stock worth $4,957,000 after buying an additional 6,087 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on EA. Stifel Nicolaus raised their price target on Electronic Arts from $163.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on shares of Electronic Arts in a research report on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and increased their target price for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. Finally, Morgan Stanley boosted their price target on Electronic Arts from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $151.26.

Electronic Arts Price Performance

Shares of EA traded up $1.03 during midday trading on Thursday, hitting $142.21. The company’s stock had a trading volume of 659,867 shares, compared to its average volume of 2,129,618. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.79 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $148.22. The company’s fifty day simple moving average is $137.90 and its two-hundred day simple moving average is $135.49.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts expect that Electronic Arts Inc. will post 5.74 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total value of $101,312.00. Following the completion of the sale, the insider now owns 26,283 shares of the company’s stock, valued at $3,328,479.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $126.64, for a total value of $101,312.00. Following the transaction, the insider now owns 26,283 shares in the company, valued at approximately $3,328,479.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total transaction of $127,150.00. Following the sale, the executive vice president now owns 17,426 shares of the company’s stock, valued at $2,215,715.90. The disclosure for this sale can be found here. Insiders have sold a total of 23,539 shares of company stock valued at $3,199,031 over the last 90 days. 0.22% of the stock is owned by insiders.

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.