Frank Rimerman Advisors LLC Increases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Frank Rimerman Advisors LLC grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 8,641.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,535 shares of the game software company’s stock after buying an additional 2,506 shares during the period. Frank Rimerman Advisors LLC’s holdings in Electronic Arts were worth $353,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in Electronic Arts by 82.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock worth $3,327,000 after buying an additional 11,343 shares during the last quarter. FORA Capital LLC raised its stake in shares of Electronic Arts by 209.7% during the first quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock worth $6,101,000 after acquiring an additional 31,136 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Electronic Arts in the 1st quarter worth approximately $1,711,000. Scotia Capital Inc. boosted its stake in shares of Electronic Arts by 99.4% in the 4th quarter. Scotia Capital Inc. now owns 17,338 shares of the game software company’s stock valued at $2,372,000 after purchasing an additional 8,644 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Electronic Arts by 13.5% during the 1st 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 during the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Electronic Arts stock opened at $141.64 on Wednesday. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The stock’s 50 day simple moving average is $145.97 and its two-hundred day simple moving average is $137.82. 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 stock has a market cap of $37.64 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.97 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results 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 company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. As a group, analysts expect that Electronic Arts Inc. will post 5.89 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

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

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the transaction, the insider now owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares in the company, valued at $3,863,848.80. The disclosure for this sale can be found here. Insiders sold a total of 24,570 shares of company stock valued at $3,621,343 in the last three months. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen upped their price target on shares of 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 stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm reiterated a “neutral” rating and issued a $154.00 price objective on shares of Electronic Arts in a research report on Thursday, September 19th. BMO Capital Markets reissued an “outperform” rating and set a $154.00 price objective on shares of Electronic Arts in a research note on Tuesday, July 30th. Finally, Citigroup downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

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.