Industrial Alliance Investment Management Inc. Raises Position in Electronic Arts Inc. (NASDAQ:EA)

Industrial Alliance Investment Management Inc. grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,937 shares of the game software company’s stock after purchasing an additional 541 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Electronic Arts were worth $3,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Electronic Arts by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 21,802,596 shares of the game software company’s stock valued at $2,758,246,000 after purchasing an additional 149,746 shares during the last quarter. Public Investment Fund lifted its holdings in shares of Electronic Arts by 12.7% during the 2nd quarter. Public Investment Fund now owns 16,011,844 shares of the game software company’s stock valued at $1,947,841,000 after purchasing an additional 1,801,844 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Electronic Arts by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,493,753 shares of the game software company’s stock worth $1,398,216,000 after acquiring an additional 415,212 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Electronic Arts by 1.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,422,088 shares of the game software company’s stock worth $280,260,000 after acquiring an additional 34,163 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Electronic Arts by 5.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,354,276 shares of the game software company’s stock worth $272,413,000 after acquiring an additional 124,041 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the subject of a number of research analyst reports. TheStreet lowered Electronic Arts from a “b-” rating to a “c+” rating in a research note on Thursday, February 23rd. Wedbush reduced their target price on Electronic Arts from $164.00 to $139.00 in a research note on Wednesday, February 1st. Ascendiant Capital Markets cut their price target on Electronic Arts from $156.00 to $152.00 and set a “buy” rating on the stock in a research report on Monday, December 19th. Benchmark cut their price target on Electronic Arts from $188.00 to $150.00 in a research report on Tuesday, January 17th. Finally, Truist Financial cut their price target on Electronic Arts from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 1st. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts presently has an average rating of “Moderate Buy” and an average target price of $135.54.

Electronic Arts Trading Up 1.9 %

EA opened at $113.53 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day simple moving average is $117.21 and its two-hundred day simple moving average is $122.19. Electronic Arts Inc. has a 1-year low of $108.53 and a 1-year high of $142.79. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 8.20 and a beta of 0.86.

Electronic Arts (NASDAQ:EA – Get Rating) last released its earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($1.89). Electronic Arts had a return on equity of 14.38% and a net margin of 14.08%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $2.80 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts expect that Electronic Arts Inc. will post 4.44 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 28th. Electronic Arts’s payout ratio is presently 20.49%.

Insider Activity

In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $123.59, for a total transaction of $98,872.00. Following the sale, the insider now owns 26,155 shares of the company’s stock, valued at approximately $3,232,496.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $123.59, for a total transaction of $98,872.00. Following the sale, the insider now owns 26,155 shares of the company’s stock, valued at approximately $3,232,496.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the sale, the chief executive officer now directly owns 85,274 shares in the company, valued at approximately $10,304,510.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,100 shares of company stock valued at $1,626,881. 0.37% of the stock is currently owned by company insiders.

About Electronic Arts

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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. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.