Cumberland Partners Ltd Purchases New Position in Electronic Arts Inc. (NASDAQ:EA)

Cumberland Partners Ltd acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, Holdings Channel.com reports. The firm acquired 2,500 shares of the game software company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Electronic Arts during the third quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts during the 2nd quarter valued at about $28,000. Family Firm Inc. bought a new position in shares of Electronic Arts in the second quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new position in Electronic Arts in the 3rd quarter worth approximately $36,000. Finally, Gradient Investments LLC grew its position in Electronic Arts by 592.1% in the second 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. Institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of several recent research reports. TD Cowen increased their target price on shares of Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Electronic Arts in a report on Friday, October 25th. Benchmark restated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Roth Mkm lifted their target price on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the transaction, the chief executive officer now directly owns 54,247 shares of the company’s stock, valued at $7,675,950.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is owned by insiders.

Electronic Arts Trading Up 2.2 %

Shares of NASDAQ EA opened at $162.87 on Wednesday. The company has a market cap of $42.72 billion, a PE ratio of 41.87, a P/E/G ratio of 2.08 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 firm’s 50 day moving average price is $146.15 and its 200-day moving average price is $141.91. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $163.00.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.47%. Electronic Arts’s payout ratio is 19.54%.

Electronic Arts Profile

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.