ICICI Prudential Asset Management Co Ltd Purchases 522 Shares of Electronic Arts Inc. (NASDAQ:EA)

ICICI Prudential Asset Management Co Ltd grew its position in Electronic Arts Inc. (NASDAQ:EA) by 17.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,448 shares of the game software company’s stock after acquiring an additional 522 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Electronic Arts were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Electronic Arts by 23.7% during the 1st quarter. Empowered Funds LLC now owns 9,631 shares of the game software company’s stock worth $1,278,000 after acquiring an additional 1,844 shares during the last quarter. Sei Investments Co. lifted its position in shares of Electronic Arts by 17.0% during the first quarter. Sei Investments Co. now owns 130,988 shares of the game software company’s stock worth $17,379,000 after purchasing an additional 18,985 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Electronic Arts by 6.9% during the first quarter. Avantax Advisory Services Inc. now owns 3,408 shares of the game software company’s stock valued at $452,000 after purchasing an additional 220 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Electronic Arts by 13.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock valued at $46,258,000 after purchasing an additional 41,567 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Electronic Arts by 18.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 313,595 shares of the game software company’s stock worth $41,605,000 after purchasing an additional 49,906 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $162.72 on Thursday. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $163.00. The business’s 50-day moving average price is $146.46 and its two-hundred day moving average price is $142.05. The firm has a market cap of $42.68 billion, a PE ratio of 41.83, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the sale, the chief executive officer now directly owns 56,747 shares in the company, valued at $8,448,493.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total transaction of $223,980.00. Following the completion of the transaction, the executive vice president now owns 27,860 shares of the company’s stock, valued at $4,160,055.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $148.88, for a total transaction of $372,200.00. Following the transaction, the chief executive officer now directly owns 56,747 shares of the company’s stock, valued at $8,448,493.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

EA has been the topic of a number of recent research reports. TD Cowen increased their price objective on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America raised their price target on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James lifted their price objective on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

About Electronic Arts

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.