Prestige Wealth Management Group LLC Acquires 257 Shares of Electronic Arts Inc. (NASDAQ:EA)

Prestige Wealth Management Group LLC raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,691 shares of the game software company’s stock after purchasing an additional 257 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Electronic Arts were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after purchasing an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after buying an additional 2,090,504 shares during the period. Norges Bank bought a new stake in shares of Electronic Arts during the 4th quarter valued at $281,054,000. Swedbank AB acquired a new stake in shares of Electronic Arts during the 1st quarter worth $201,935,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Electronic Arts during the 1st quarter worth $189,055,000. 90.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EA. The Goldman Sachs Group increased their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James boosted their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group started coverage on Electronic Arts in a research report on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Electronic Arts has an average rating of “Moderate Buy” and an average target price of $161.28.

Electronic Arts Stock Down 1.3 %

Shares of NASDAQ:EA traded down $1.90 during midday trading on Friday, hitting $144.01. 1,785,738 shares of the company’s stock were exchanged, compared to its average volume of 2,109,870. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $153.51. The company has a market cap of $38.27 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The stock has a 50 day moving average price of $145.65 and a 200-day moving average price of $137.53.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.53%. Electronic Arts’s payout ratio is 16.24%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total transaction of $350,650.00. Following the transaction, the chief executive officer now owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total transaction of $350,650.00. Following the sale, the chief executive officer now directly owns 61,747 shares in the company, valued at approximately $8,660,634.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $141.01, for a total transaction of $211,515.00. Following the transaction, the chief financial officer now owns 10,553 shares of the company’s stock, valued at approximately $1,488,078.53. The disclosure for this sale can be found here. Insiders sold a total of 27,070 shares of company stock worth $3,963,638 over the last quarter. Insiders own 0.22% of the company’s stock.

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.