Vest Financial LLC Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Vest Financial LLC bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 263,037 shares of the game software company’s stock, valued at approximately $38,014,000.

Several other hedge funds have also recently made changes to their positions in EA. Brighton Jones LLC grew its stake in Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares during the period. Spire Wealth Management grew its stake in Electronic Arts by 881.0% in the fourth quarter. Spire Wealth Management now owns 2,070 shares of the game software company’s stock worth $303,000 after purchasing an additional 1,859 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Electronic Arts by 3.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,921 shares of the game software company’s stock worth $13,878,000 after purchasing an additional 2,835 shares during the period. Choreo LLC grew its stake in Electronic Arts by 17.8% in the fourth quarter. Choreo LLC now owns 4,041 shares of the game software company’s stock worth $592,000 after purchasing an additional 610 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Electronic Arts by 6.5% in the fourth quarter. Bleakley Financial Group LLC now owns 15,848 shares of the game software company’s stock worth $2,319,000 after purchasing an additional 967 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Down 0.4%

EA stock opened at $147.88 on Friday. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The business’s 50-day moving average is $145.84 and its two-hundred day moving average is $144.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $37.08 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 3.58 and a beta of 0.74.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s dividend payout ratio is 17.92%.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the transaction, the insider now owns 26,216 shares of the company’s stock, valued at $3,801,320. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $155.57, for a total value of $388,925.00. Following the sale, the insider now owns 40,189 shares of the company’s stock, valued at $6,252,202.73. This represents a 5.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,729 shares of company stock valued at $4,107,664. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EA. Morgan Stanley upped their price target on Electronic Arts from $135.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. TD Cowen boosted their target price on Electronic Arts from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. UBS Group boosted their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Robert W. Baird set a $168.00 target price on Electronic Arts in a report on Wednesday, May 7th. Finally, Moffett Nathanson reissued a “neutral” rating and issued a $163.00 target price on shares of Electronic Arts in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.88.

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.