Electronic Arts (NASDAQ:EA) Reaches New 1-Year High – Here’s What Happened

Electronic Arts Inc. (NASDAQ:EA)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $204.89 and last traded at $204.7950, with a volume of 1596717 shares. The stock had previously closed at $203.52.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Citigroup boosted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Electronic Arts has a consensus rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Stock Performance

The firm has a market capitalization of $51.35 billion, a PE ratio of 58.68, a P/E/G ratio of 2.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a fifty day moving average price of $202.15 and a 200 day moving average price of $202.39.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

Insider Activity

In related news, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the completion of the transaction, the chief financial officer owned 25,991 shares of the company’s stock, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $203.21, for a total transaction of $508,025.00. Following the transaction, the insider owned 43,343 shares in the company, valued at approximately $8,807,731.03. The trade was a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 39,906 shares of company stock valued at $8,060,033. 0.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EA. Ascentis Independent Advisors purchased a new stake in Electronic Arts in the 1st quarter worth about $27,000. Ameriflex Group Inc. increased its holdings in shares of Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. MV Capital Management Inc. purchased a new stake in shares of Electronic Arts in the fourth quarter worth approximately $28,000. Asset Planning Inc purchased a new stake in shares of Electronic Arts in the first quarter worth approximately $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Electronic Arts during the first quarter worth approximately $32,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.