Brookstone Capital Management Invests $702,000 in Electronic Arts Inc. (NASDAQ:EA)

Brookstone Capital Management bought a new stake in Electronic Arts Inc. (NASDAQ:EAGet Rating) during the 2nd quarter, HoldingsChannel reports. The fund bought 5,588 shares of the game software company’s stock, valued at approximately $702,000.

Several other hedge funds have also recently added to or reduced their stakes in EA. BlackRock Inc. grew its holdings in Electronic Arts by 1.9% during the fourth quarter. BlackRock Inc. now owns 23,528,573 shares of the game software company’s stock worth $3,103,418,000 after acquiring an additional 436,684 shares during the period. Vanguard Group Inc. raised its holdings in shares of Electronic Arts by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,802,596 shares of the game software company’s stock worth $2,758,246,000 after purchasing an additional 149,746 shares in the last quarter. State Street Corp raised its holdings in shares of Electronic Arts by 0.5% in the 4th quarter. State Street Corp now owns 14,178,078 shares of the game software company’s stock worth $1,870,088,000 after purchasing an additional 74,982 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Electronic Arts by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,792,775 shares of the game software company’s stock worth $1,491,902,000 after buying an additional 1,859,869 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Electronic Arts by 3.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,078,541 shares of the game software company’s stock worth $1,401,546,000 after buying an additional 409,382 shares during the last quarter. Institutional investors own 90.65% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $117.42 on Friday. The company has a market capitalization of $32.65 billion, a PE ratio of 37.16, a price-to-earnings-growth ratio of 3.72 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 1.24. Electronic Arts Inc. has a one year low of $109.24 and a one year high of $146.72. The company’s fifty day moving average price is $128.21 and its 200 day moving average price is $127.22.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 0.65%. Electronic Arts’s dividend payout ratio is presently 24.05%.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 7,373 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $130.05, for a total transaction of $958,858.65. Following the completion of the transaction, the chief executive officer now directly owns 29,242 shares in the company, valued at $3,802,922.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jacob J. Schatz sold 6,816 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $132.52, for a total transaction of $903,256.32. Following the transaction, the insider now owns 17,251 shares in the company, valued at approximately $2,286,102.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 7,373 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $130.05, for a total transaction of $958,858.65. Following the completion of the sale, the chief executive officer now owns 29,242 shares of the company’s stock, valued at approximately $3,802,922.10. The disclosure for this sale can be found here. Insiders have sold 92,901 shares of company stock valued at $12,015,172 in the last 90 days. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EA shares. Moffett Nathanson lowered Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $141.00 to $147.00 in a research note on Friday, June 10th. Barclays boosted their price objective on Electronic Arts from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Electronic Arts from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Truist Financial cut their price target on shares of Electronic Arts to $154.00 and set a “buy” rating on the stock in a report on Sunday, July 31st. Finally, Stifel Nicolaus lowered their price objective on shares of Electronic Arts from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.64.

Electronic Arts Company Profile

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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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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