Electronic Arts Inc. (NASDAQ:EA) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,214 shares of the game software company’s stock after purchasing an additional 705 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Electronic Arts were worth $1,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Electronic Arts by 15.0% in the 4th quarter. Signaturefd LLC now owns 3,915 shares of the game software company’s stock worth $536,000 after purchasing an additional 510 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Electronic Arts by 3.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 24,519 shares of the game software company’s stock valued at $3,354,000 after buying an additional 819 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Electronic Arts by 23.7% during the 4th quarter. Lindbrook Capital LLC now owns 997 shares of the game software company’s stock worth $136,000 after buying an additional 191 shares during the last quarter. abrdn plc grew its position in shares of Electronic Arts by 19.6% in the 4th quarter. abrdn plc now owns 533,248 shares of the game software company’s stock worth $72,954,000 after acquiring an additional 87,481 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Electronic Arts by 3.2% in the 4th quarter. Greenleaf Trust now owns 3,818 shares of the game software company’s stock valued at $522,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Electronic Arts in a report on Thursday. BMO Capital Markets assumed coverage on Electronic Arts in a report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price target on the stock. UBS Group reduced their price objective on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research report on Wednesday, March 27th. Stifel Nicolaus raised their target price on Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Wedbush restated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, January 31st. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Activity

In other Electronic Arts news, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $128.21, for a total value of $128,210.00. Following the completion of the sale, the insider now owns 18,426 shares of the company’s stock, valued at $2,362,397.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeff Huber sold 11,872 shares of Electronic Arts stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $141.90, for a total value of $1,684,636.80. Following the transaction, the director now owns 79,381 shares in the company, valued at approximately $11,264,163.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $128.21, for a total transaction of $128,210.00. Following the sale, the insider now owns 18,426 shares of the company’s stock, valued at $2,362,397.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,144 shares of company stock worth $5,143,560. 0.20% of the stock is owned by corporate insiders.

Electronic Arts Stock Up 1.3 %

EA traded up $1.64 on Friday, reaching $127.27. 1,869,318 shares of the company traded hands, compared to its average volume of 1,854,472. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $144.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $34.03 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.77 and a beta of 0.76. The stock’s 50 day moving average price is $134.75 and its 200-day moving average price is $134.40.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Electronic Arts Inc. will post 5.36 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. Electronic Arts’s dividend payout ratio is currently 19.14%.

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.