22,610 Shares in Electronic Arts Inc. $EA Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,610 shares of the game software company’s stock, valued at approximately $3,611,000.

Several other hedge funds have also made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey increased its stake in Electronic Arts by 2.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,594 shares of the game software company’s stock valued at $6,323,000 after purchasing an additional 1,043 shares during the last quarter. denkapparat Operations GmbH grew its holdings in Electronic Arts by 144.1% in the 2nd quarter. denkapparat Operations GmbH now owns 5,756 shares of the game software company’s stock valued at $919,000 after buying an additional 3,398 shares during the period. Tobam grew its holdings in Electronic Arts by 50.4% in the 2nd quarter. Tobam now owns 37,270 shares of the game software company’s stock valued at $5,952,000 after buying an additional 12,497 shares during the period. Wealth Alliance LLC raised its holdings in shares of Electronic Arts by 9.3% in the 2nd quarter. Wealth Alliance LLC now owns 3,651 shares of the game software company’s stock worth $583,000 after purchasing an additional 310 shares during the period. Finally, Forsta AP Fonden lifted its stake in shares of Electronic Arts by 9.4% in the 2nd quarter. Forsta AP Fonden now owns 103,500 shares of the game software company’s stock valued at $16,529,000 after purchasing an additional 8,900 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $201.34 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $203.75. The firm’s 50-day simple moving average is $191.57 and its 200-day simple moving average is $168.36. The firm has a market cap of $50.22 billion, a PE ratio of 58.87, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

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

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total value of $429,225.00. Following the transaction, the insider directly owned 55,592 shares in the company, valued at approximately $9,544,590.48. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,200 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $171.52, for a total transaction of $205,824.00. Following the sale, the executive vice president directly owned 26,080 shares of the company’s stock, valued at approximately $4,473,241.60. This represents a 4.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,200 shares of company stock valued at $7,149,882 over the last three months. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EA has been the topic of several research reports. Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Benchmark restated a “buy” rating on shares of Electronic Arts in a research note on Wednesday, October 29th. Morgan Stanley lifted their price target on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Wells Fargo & Company set a $168.00 price objective on shares of Electronic Arts and gave the company an “equal weight” rating in a research report on Monday, July 28th. Finally, Wedbush restated a “neutral” rating and set a $200.00 target price on shares of Electronic Arts in a research note on Monday, September 29th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and an average price target of $181.64.

Electronic Arts Company 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.