Palouse Capital Management Inc. Boosts Stake in Electronic Arts Inc. (NASDAQ:EA)

Palouse Capital Management Inc. lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,477 shares of the game software company’s stock after acquiring an additional 1,759 shares during the period. Palouse Capital Management Inc.’s holdings in Electronic Arts were worth $1,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its stake in shares of Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Electronic Arts by 102.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts during the 2nd quarter valued at approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in Electronic Arts during the first quarter valued at $30,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EA. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 target price on shares of Electronic Arts in a research note on Tuesday, July 30th. Morgan Stanley restated an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday. Oppenheimer upped their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Raymond James increased their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.83.

Electronic Arts Stock Down 1.5 %

EA stock opened at $140.45 on Thursday. The company has a market cap of $37.32 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The business’s 50-day moving average is $146.44 and its two-hundred day moving average is $137.66. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. As a group, analysts forecast that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the 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 completion of the sale, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at $8,660,634.22. The disclosure for this sale can be found here. Insiders sold 28,570 shares of company stock worth $4,183,508 in the last three months. Corporate insiders own 0.22% of the company’s stock.

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.